Global wine giant Treasury Wine Estates Ltd (ASX: TWE) is still waiting for a share price recovery after news of complications with Chinese operations due to export certificate issues has seen share price falls – with Treasury down 0.8% to $16.13 at the time of writing.
Panic about a glut of Australian wine in the Chinese market saw Treasury shares drop from $19.63 on May 9 down to $16.27 at May 21 close, but a company response to market commentary on May 17 could start to sink in for investors soon.
Treasury reassured shareholders it was "comfortable with the sustainability of its operating model in China" and its "disciplined approach to managing inventory levels" with its customers, reaffirming its focus on embedding important route-to-market changes in the US, with "continued positive earnings momentum" across Australia, New Zealand, Asia and Europe.
Treasury is not the only company who has developed a stronghold in the Chinese market as a preferred exporter, with baby formula company Bellamy's Australia Ltd (ASX: BAL) building its substantial short-term growth on its success in the market.
Still in the consumables space vitamin giant Blackmores Limited (ASX: BKL) has more than a toehold in the Asian market as demand for its herbal and nutritional supplements grows globally.
