Struggling Bordeaux wine producers offered aid to clear stocks - BusinessWorld Online

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Struggling Bordeaux wine producers offered aid to clear stocks - BusinessWorld Online
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France will provide subsidies to wine producers in regions like Bordeaux to offload surplus supplies, the agriculture ministry said on Monday, as the renowned industry struggles with declining consumption. READ:

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As a short-term measure, the government will channel up to €160 million of national and European Union aid this year for distilling surplus stocks into alcohol, the ministry said in a statement after a meeting with industry representatives.to absorb excess supplies caused by the closure of French bars and restaurants during the COVID-19 pandemic.

The government will also study longer-term measures for the wine industry to adapt to climate change, consumer trends and export demand, the ministry said. A crisis committee has been set up in Bordeaux by the local prefect to look into steps including pulling up some vineyards to counter disease, it added. —

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