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Australia's difficulties have become Chile's opportunities in China

www.wine-searcher.com by Oliver Styles14/05/2021  

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Chilean wine exports to China grow

Australia's trade spat with China looks unlikely to be resolved soon with Beijing announcing on Friday that it was suspending economic talks with Australia due to "the current attitude of the Australian commenwealth government". According to broadsheet The Australian, the Chinese National Development and Reform Commission accused Australian government officials of "disrupt[ing] the normal exchanges and co-operation between China and Australia out of Cold War mindset and ideological discrimination". The paper said the news would be a "blow to a swath of industries that have been hit by trade tariffs, including wine, agriculture and resources".

As Australia grapples with the ongoing trade dispute, reports suggest the likes of Chile and Spain have stepped into the gap. According to Chilean news outlet La Tercera, local wine giant Concha y Toro's exports to China have surged 128 percent, year-on-year, in the first quarter. Spanish news agency EFE reported on Wednesday that Chile had overtaken Australian exports to China in both volume and value, bringing the South American country to a second-place export position behind France. Spain had also posted strong gains, according to the report, and "due to the Australian collapse [had] positioned itself as the third largest exporter to China by volume."