Strong Australian dollar casts pall over embattled SA wine industry
on 26/10/10 at 3:11 pmIndustry
THE unprecedented strength of the Australian dollar has cast a new pall of gloom over the embattled local wine industry, with some grape growers and smaller wineries struggling to survive.
The strength of the dollar, which last week reached a brief moment of historic parity with the US greenback, is the latest in a string of challenges confronting Australian wine companies.
Brian Smedley, chief executive of the South Australian Wine Industry Association, said the full impact of the strong dollar might be yet to come, as some companies had locked in export contracts when the dollar was weaker.