France to spend €200m destroying wine as demand falls
France to spend €200m destroying wine as demand falls
A cocktail of problems has hit the wine industry, including demand falling as more people drink craft beer.
The French government is allocating €200m (£171.6m) to destroy surplus wine and support producers.
It comes amid a cocktail of problems for the industry, including a falling demand for wine as more people drink craft beer.
Overproduction and the cost of living crisis are also hitting the industry.
Most of the €200m will be used to buy excess stock, with the alcohol sold for use in items such as hand sanitiser, cleaning products and perfume.
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Crazy they couldn't just export it. Bunch of countries love wine
Globally there’s a glut of low quality wine.
Tarrifs and shipping costs eat up too much profit margin.
Not just globally, also locally. At my house.
Sounds like you need to invite some friends over to help with the overstock situation.
They don't help with the tariffs and shipping costs.
I’ve preemptively taken your advice on board, and the sad reality is that the glut was short lived. Looks like I’ll be going up the road again…