The State will buy unsold wines

The French wine industry, which has been experiencing a series of problems due to the decrease in demand for wine as a result of the increase in beer consumption, is also experiencing difficult times due to rising inflation.

Much of the 200 million euros allocated by the French government will be used to buy surplus stocks and will sell products for use in products such as alcohol, hand sanitiser, cleaning products and perfumes.

SUPPORT TO SWITCH TO OTHER PRODUCTS

Financial support will also be provided to allow winemakers to switch to other products, such as olives, to reduce overproduction.

The Minister of Agriculture, Marc Fesneau, affirmed that the industry is supported to prevent the excessive fall in prices from deteriorating the income of wine producers.

“The wine industry must look to the future, consider and adapt to changes in consumers,” Fesneau said.

According to data from the European Commission, until June wine consumption decreased by 7 percent in Italy, 10 percent in Spain, 15 percent in France, 22 percent in Germany and 34 percent in Portugal. On the other hand, wine production in Europe increased by 4 percent in the last year.