A $989,000 Australian Government grant will help a wine industry consortium led by Wine Australia build an online pricing and market-data digital analytics platform to provide greater transparency throughout the supply chain.
Minister for Agriculture and Northern Australia David Littleproud said the funding would support Wine Australia to work with ABARES on improved winegrape price forecasts and commodity analysis to be published on the new digital platform.
“We are backing fairer, stronger and more resilient supply chains so everyone is treated fairly and pays their fair share,” Minister Littleproud said.
“It is great to see the industry – led by Wine Australia, Australian Grape and Wine, and the Inland Wine Regions Alliance – coming together to deliver these outcomes.
“Better market data, insights and information available to the sector helps all players to make better business decisions and mitigates against bargaining power imbalances.
Wine Australia General Manager Rachel Triggs said the project would fill a significant knowledge gap in the domestic market.
“”The new information is expected to have a major impact across the supply chain,” Ms Triggs said.
“Independent price forecasts will help 6,000 independent growers negotiate prices and also make informed decisions about future production.
“Reliable data on domestic sales will offer a clearer picture of supply-demand balance in the medium term and help identify trends, while in the longer term, robust price forecasting will redress imbalances within the sector and increase market efficiency.”
Fast Facts:
- Wine Australia’s digital platform will display a set of winegrape price indicators which can be accessed online and downloaded for analysis.
- A range of indicators and benchmarks for winegrape crush, prices, export and domestic sales, bulk wine prices and other data.
- The Australian Government is investing $5.4 million in projects to improve market transparency across perishable agricultural goods supply chains, following the ACCC Perishable Agricultural Goods inquiry.
