AUSTRALIA: Australian Wine prices cut as domestic sales fall
Australian wine companies have cut prices in the crucial under-A$10 market to try and reinvigorate a sluggish domestic market hit by GST, rising interest rates and worries of am impending economic downturn, according to industry leaders. The Winemakers Federation of Australia (WFA) said price competition in the cheaper bottled wine market was the most competitive the industry had seen for years. However it was difficult to pinpoint reasons particularly as the Australian Bureau of Statistics showed figures reporting that bottled wine was still growing 6%.
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