CHINA PUNISHES AUSTRALIA
Half of Australian barley is exported to China.
Starting today – Tuesday 19 May 2020 – China is slapping a massive 80% duty on Aussie barley imports for the next five years.
In 2018, that was worth nearly US$1 billion. Last year – because of a drought in Australia – barley exports to China were worth US$0.4 b.
China is punishing Australia because it has been heading a move to investigate the origin of Covid 19.
Earlier last week, China banned imports from four Australian abattoirs which represents 35% of Australia’s beef exports to China worth around US$0.65 b annually.
Wine is expected to be another target.
In 2019, Aussie wine exports globally were worth US$2.1 billion.
China is Australia’s Number One market for wine exports in value.
As of the financial year to end March 2019, Aussie wine exports to China were worth US$0.7 billion.