Brexit could benefit to Australian winemakers

Brexit could benefit to Australian winemakers

Britain is currently the biggest importer of Australian wine by volume and the national industry body. Wine Australia believes that the fall out from the UK’s decision to opt out of the EU could see wine become cheaper to send to Great Britain.

As is stands, Australian winemakers have to pay a tax to send wine to the UK that bypasses other European countries. And Wine Australia believe those tariffs could be scrapped when the split finally happens. This could also mean that Australian wine is cheaper for consumers in the UK to buy.

Brexit could benefit to Australian winemakers

However, some are choosing to remain cautious.

“We’re hoping that all these changes augur well for the Australian wine industry in terms of there being a more level playing field between us and the rest of Europe, but we really don’t know what the outcome is going to be,” said Larry Cherubino, a winemaker in Western Australia.

The head of the Winemakers Association of WA, Larry Jorgensen, is equally guarded. He believes that currency markets are more likely to dictate the road ahead. He would be paying close attention to the value of the pound.

If finally brexit will come, a lot of wine producing countries they need to make drastic changes.