THE GOOD

Finweek English Edition - - THE WEEK -

South Africa will be al­lowed to ex­port 110m litres of wine duty-free to the EU in terms of a new agree­ment, up from its ex­ist­ing quota of 48m litres a year. The deal is ex­pected to be­come ef­fec­tive in Oc­to­ber. The EU is a ma­jor mar­ket for South African wine pro­duc­ers, ac­count­ing for nearly 75% of ex­ports, worth R5.01bn a year, wine pro­ducer or­gan­i­sa­tion VinPro said. The deal of­fers a “much-needed boost for the in­dus­try that had been be­sieged by drought and a tough global cli­mate”, it said. Other ben­e­fits in­cluded the in­tro­duc­tion of a duty-free quota for sugar of 15 000 tons and ethanol of 80 000 tons a year, Busi­ness Day re­ported.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.