According to Sun Peng, assistant manager of COFCO Great Wall Wine (Penglai) Co., Ltd., a oak barrel originally cost up to 10,000 yuan, which is very expensive. Many domestic wineries only use oak barrels for aging when producing high-quality wine, so it is very expensive. Some companies produce low-end wines such as table wines and use stainless steel barrels for aging. This is low-cost. As a result, the price and quality of domestic wines in the entire industry have always hovered at the mid-to-low end.
Due to the high price of oak barrels and high tariffs, the proportion of domestic barreled wine in the total production is only 1%. In response to the pain points of this industry, Penglai Customs conducted market research and formed a tax policy proposal on reducing the import tariff rate of oak barrels with detailed data and strong forward-looking information, which was adopted by the Tariff Commission of the State Council.
dropped from 12% to 5%, and the tax rate dropped by more than 50%. Recently, the first batch of oak barrels enjoying the new tariff rate have entered the country one after another, which not only reduces the costs of wine production companies, but also stimulates the development of supporting companies.
According to statistics, in 2021, only 330.7 tons of oak barrels were imported into Penglai District. Stimulated by the favorable factors of tariff reduction, it is expected that Penglai oak barrel imports will reach more than 500 tons in 2022.
