Money must roll
France and the European Union will spend 200 million euros to help wine producers struggling to cope with falling prices and declining demand, it was announced in August. The French agriculture ministry had initially allocated 160 million euros for the crisis programme, which allowed some growers to sell surplus stocks to distillers, who then turned them into other alcoholic products, such as hand disinfectants. However, the high demand for this subsidised scheme exceeded expectations. The wine sector, with France ahead, Spain and Portugal behind, has taken a hit since covid due to inflation and changing consumption patterns. A good harvest last year, combined with declining demand, created a glut of wine across Europe.
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