China's wine market is in decline. In 2020, wine imports dropped by 28.8 per cent to 4.7 mill. hl. Also, the value recorded a decline of 19.9 per cent to $ 2.83 billion.
As several media report, experts had expected an even stronger decline. However, traders had built up stocks in the run-up to the tariffs against Australia.
A switch to domestic products does not seem to be the reason for the drop in imports, as Chinese wine production fell for the fifth year in a row to now 4.13 mill. hl, 6.1 per cent less than in the previous year.
