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South Perth
Tim makes some good points but as usual a blanket approach doesn't suit all participants. There are some quite profitable and low debt holding family wine businesses in Margaret River and other places that are doing quite well and will continue to do so, long after all the "elderly, and cranky, retired Perth professionals" have moved on. It is a pity that all the negatives surrounding the wine industry currently are accumulated and reported on, much in the same way as any other industry is when things are bad. It wasn't that long ago (try 10 years ago exactly) when the gold price was below USD$300/oz. I wonder how many gold industry "professionals" and industry commentators were wiping gold mining off as a viable industry at the time. Phil Ruthven from IBISWorld produced a paper late 2009 that showed some quite positive signs for the Australian wine industry over the next 10 years and the logic appears sound. Now that we are starting to see the end of the massive corporatisation of the Australian wine business we might get back to seeing well-crafted wines again command realistic prices. There are already green shoots appearing, those close to the wine business know where they are growing.