France is spending €200 million to destroy its extra wine since no-one's drinking any
The wine will be repurposed into hand sanitizers, cleaning potions, and perfume (Photo Credits: Getty Images)
The French government is uncorking €200 million (approximately Rs 17 billion) to tackle a grape-sized problem: too much wine and not enough takers.
You've got it! They're literally making money while saying au revoir to wine!
But this isn't just any wine woe; it's a cocktail of challenges. Craft beer has lured wine lovers away, overproduction has flooded the vineyards, and the cost of living is giving winemakers a headache.
What
- A substantial chunk of that €200 million (Rs 17 billion) will be used to rescue the excess wine.
- But this isn't your ordinary sip; it'll be repurposed into hand sanitisers, cleaning potions, and even a hint of perfume.
- Plus, winegrowers might just switch their grapes for olives with some of this cash.
❓ Are French farmers getting paid to destroy their surplus wine..?!! In France, the drop in demand for wine has led local farmers to stockpile surplus products. The government has therefore decided to spend 200 million euros on a program to support producers, which according to… pic.twitter.com/2KO6BK1xU6
— Peacemaker (@peacemaket71) August 31, 2023
Why
- It is all being done to prevent the wine market from going sour and to help vintners rediscover their mojo, says Agriculture Minister Marc Fesneau.
- Let's rewind to the mid-2000s when Europe faced what they called a "wine lake".
- It was like a flood of wine because the European Union was handing out subsidies like candy, causing a wine surplus.
- Fast forward to today, and the EU is still dishing out 1.06 billion euros (Rs 9,464 crore appx) every year for the wine industry.
- But now, people are sipping more beer and other drinks, not to mention Covid-19 shutting down bars and restaurants worldwide, which hit wine sales hard.
🍷 While the EU pays France €160m to destroy surplus wine, the UK's wine exports are flourishing, valued at £557m in 2022, up from £467m the previous year. Seems like Brexit is allowing the UK to toast to success, while EU wine industries are left with sour grapes.
— Partisan (@1PartisanNews) August 26, 2023
🥂 Chin… pic.twitter.com/kltIp23Qtf
What data says
Well, if you take a sip of European Commission data, it tells a tale of wine woes.
- Wine consumption is dropping like grapes in Italy (down 7%), Spain (down 10%), France (down 15%), Germany (down 22%), and even Portugal (down a whopping 34%).
So, it's time for the French winemakers to sip, swirl, and adapt to this ever-changing wine landscape.
Bottom line
France is sipping on a glass of innovation, urging the wine world to adapt, or perhaps even switch to olives.
Cheers to the future!