New Zealand’s wine industry is facing some troubles.
The industry is facing hundreds of millions of dollars in extra tariffs, Donald Trump imposing a 15% rate on New Zealand while many competing markets will continue to face only 10%.
Along with this, there is an oversupply issue and declining global demand, with nearly 100,000 tonnes of fruit remaining unharvested this season alone.
Winegrowers NZ’s Charlotte Read told Mike Hosking that despite the challenging times, there is a very strong demand for New Zealand wines, which will continue to be sought after around the world.
She says they have no long term reason for concern.
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