News Formal

Fogarty Wine Group buys iconic Tasmanian walnut business to plant cool climate grapes

  • 📰 abcnews
  • ⏱ Reading Time:
  • 32 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 54%
  • Publisher: 83%

Fogarty Wine Group News

Stahmann Webster,Tasmanian Walnuts,Peter Fogarty

The wine glut in parts of Australia is not deterring developers from forging ahead with planting new vineyards in Tasmania.

major wine player has snapped up Australia's oldest commercial walnut farm in Tasmania.Fogarty Wine Group says there is potential to plant up to 500 hectares of grapes on the site.

"We're going to do it very progressively, making sure we've got the markets before we grow more grapes.Stahmann Webster made the decision to sell its Tasmanian property following a review of its national portfolio. The walnuts are shipped to the New South Wales Riverina, and virtually within 24 hours are cracked at the Leeton processing plant.Tasmania's east coast has become a magnet for interstate winemakers, chasing a cooler climate to grow fruit.

Thousands of people are being funnelled into a multi-level marketing scheme promising 'financial freedom', but there's a cost

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inland wine grape growers seek government support to exit industry 'with dignity' amid wine glutSince the imposition of hefty Chinese tariffs on Australian wine in 2020, wine grape growers have barely broken even and the federal government has signalled it will not fund growers to exit the industry.
Source: abcnews - 🏆 5. / 83 Read more »