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Wednesday, February 6, 2008

Drought hits Australian wine prices

Government statistics showed that wine production for the fiscal year ending June 30, 2007, fell by almost one third from the previous year to 978 million litres (258 million gallons).

A drop in production, due mainly to drought, coupled with increasing sales have drained Australia's surplus glut of wine by 15% to 1.8 billion litres (480 million gallons) last year from 2.1 billion litres (550 million gallons) the year before.

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