Now that the new trade deal has been signed, the Indian market is expected to grow and tariffs on premium Australian wines are expected to be reduced by half to 75 percent. The excitement is alleviated by the fact that only about 3 million of its 1.38 billion inhabitants drink wine on a regular basis.
Despite its small size, Singapore has grown into a more important market than ever before. Imported A $ 166 million Australian wine in 2021 – – Almost double in 2020 – – Singapore spends a lot on Australian wine, which combines the following four largest Asian markets (Japan, South Korea, Malaysia and Taiwan). In fact, Singapore is currently the fifth largest Australian wine export market in the world.
Without Chinese customers, Singaporean drinkers might have wanted a more competitive price.Unfortunately, it hasn’t happened given Due to the global freight crisis and soaring fuel prices, logistics costs have risen and transportation has been delayed.
What we are seeing is somewhat better access to the finest Australian wines that might otherwise have found a way to China. “We look forward to more choices from better, more uplifting and more niche Australian producers,” said Singapore-based drinkers, co-founder of Singapore’s finest wine distributor Pivene. Matthew Lonergan told me.
“Although always a popular category in Singapore, Australian wines are often regarded as a relatively mainstream option and are the dominant multinational who are keen on price and mass distribution in both the trading and retail environment. It’s built around brands that are familiar to distributors, “says Ronnergan.
“The real opportunity now is to readjust Australian wines as long as they are recognized and positioned.”