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By Navya Mittal and Echha Jain
(Reuters) -Australia's Treasury Wine Estates warned on Thursday that inflation was squeezing demand for its commercial-grade wine and driving up packaging costs, sending its shares nearly 8% lower.
The country's biggest winemaker flagged challenging market conditions and consumption outlook for commercial wine, especially in Australia and the United Kingdom, and said it was undertaking a review of its domestic supply chain.
"Wine is probably more of a luxury ite...
>>> Read more: Australia's Treasury Wine warns of demand hit from inflation
(Reuters) -Australia's Treasury Wine Estates warned on Thursday that inflation was squeezing demand for its commercial-grade wine and driving up packaging costs, sending its shares nearly 8% lower.
The country's biggest winemaker flagged challenging market conditions and consumption outlook for commercial wine, especially in Australia and the United Kingdom, and said it was undertaking a review of its domestic supply chain.
"Wine is probably more of a luxury ite...
>>> Read more: Australia's Treasury Wine warns of demand hit from inflation
