Why France is spending 200 million euros to destroy surplus wine

The French government has set aside €200 million to destroy surplus wine production in the country due to challenges caused by a fall in sales, changes in consumption habits, and the impact of the Covid-19 pandemic. The funding aims to support struggling wine producers and prevent prices from collapsing, while encouraging the industry to adapt to changing consumer patterns.

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Relevant topic timeline:

8/27/2023

France Has So Much Extra Wine, It's Paying Farmers $215 Million To Destroy It

The French government will pay winemakers in Bordeaux and Languedoc $215 million to sell off their surplus wine, as a fall in demand, a more competitive market, and pandemic-related issues have resulted in an oversupply of 3 million hectolitres of wine.

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France pays winemakers to rip up vines as famous Bordeaux region faces uncertain future

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Demand for wine has fallen so much that France is spending $215 million to distill excess wine into ethanol used in cleaning products

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Italy to Lose Top Wine Producer Status to France as Extreme Weather and Disease Slash Output

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Posted 8/26/2023, 7:06:00 AM

Why France is spending 200 million euros to destroy surplus wine

theweek.in

Relevant topic timeline:

8/27/2023

France Has So Much Extra Wine, It's Paying Farmers $215 Million To Destroy It

8/28/2023

France pays winemakers to rip up vines as famous Bordeaux region faces uncertain future

8/27/2023

Demand for wine has fallen so much that France is spending $215 million to distill excess wine into ethanol used in cleaning products

9/12/2023

Italy to Lose Top Wine Producer Status to France as Extreme Weather and Disease Slash Output

Italy's wine output is projected to decrease by 12% this year due to extreme weather and fungal diseases, causing the country to lose its position as the world's largest wine producer to France.

9/14/2023

France tightens budget to save 16B euros through spending cuts, ending energy caps