Australian winegrowers say price cuts may destroy business

01/31/2014 | Decanter online

Growers of wine grapes in Australia's Murray Valley are lodging a formal complaint against top domestic wine companies Treasury Wine Estates, Pernod Ricard and Accolade Wines, accusing the companies of abusing their market power. Grape prices are being cut by 20% to 50% and will "force vineyards into insolvency," said Mark McKenzie, Murray Valley Winegrowers' chief executive.

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