AUSTRALIA's barley sales to China have soared since Beijing scrapped tariffs six months ago, highlighting the power of the huge market of the wine industry Down Under, reports Bloomberg.
In an example of how quickly demand can rebound, China accounted for 90 per cent of Australia's exports of barley in December, even though the imposts were only removed in August.
Shortly after that, Beijing announced a review of tariffs on australian wine - some as high as 218 per cent - with a decision expected next month.
China's rapid return as the dominant buyer of Australian barley raises questions about the success of Canberra's push to diversify export markets over the past three years. Beijing in 2020 took punitive trade action on some Australian products in response to then-Prime Minister Scott Morrison's call for an international investigation into the origins of Covid-19.
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In an example of how quickly demand can rebound, China accounted for 90 per cent of Australia's exports of barley in December, even though the imposts were only removed in August.
Shortly after that, Beijing announced a review of tariffs on australian wine - some as high as 218 per cent - with a decision expected next month.
China's rapid return as the dominant buyer of Australian barley raises questions about the success of Canberra's push to diversify export markets over the past three years. Beijing in 2020 took punitive trade action on some Australian products in response to then-Prime Minister Scott Morrison's call for an international investigation into the origins of Covid-19.
SeaNews Turkey
