The ups and downs of the wine industry

The Australian wine industry is, largely out of public view, undergoing dramatic change.

At the top end of town, the giant global beer and wine conglomerate Fosters is contemplating how to move forward after its ill-fated and value-destroying acquisition of Southcorp.

Drought, especially in the irrigated 'engine room' Murray and Darling River regions of the wine industry is decimating many grape-growers.

Competition from Latin America and South Africa is eroding our huge presence in the wine sections of supermarkets and bottle shops around the globe.

And the recently published Wine Australia industry growth strategy is sensible and durable - but much harder to achieve than the previous plan.

In the next few days I'll reflect in more detail on the industry's challenges and opportunities.