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South Australian Wine Growers Face Unsustainable Costs Amid Industry Downturn
What happened
Grape grower Jack Papageorgiou is preparing to quit his farming operation in South Australia's Riverland due to the wine industry downturn. He noted that the industry has seen some growers receive prices below the cost of producing their wine grapes. The South Australian government previously announced a $109 million package, which includes loans of up to $500,000 to help growers transition to other crops.
From abc.net.au
Why it matters
The financial strain on growers has led many to make the commercial decision that farming is unsustainable, reflected in vacant land. Older growers feel that the government support arrived too late to prevent losses, indicating ongoing instability in the regional wine sector.
Greece has a large global diaspora in countries like Australia, the US, and Canada, and has historically required bailout packages from EU partners.
From abc.net.au
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Greece
country in Southeast Europe