France Boosts Wine Industry with €130 Million Aid

The French Agriculture Ministry announced additional €130 million support for the wine industry to uproot vines, address climate change impacts, and declining consumption. The government aims to stabilize the sector despite budget constraints, and calls for additional EU support to help revive wine production.

The French Agriculture Ministry has pledged an extra €130 million to support the wine industry, aiming to uproot excess vines and curb oversupply. The initiative seeks to mitigate the sector's challenges, including climate change, dwindling consumption, and geopolitical tensions.

The ministry highlighted the adverse effects of climate change over recent years, which have disrupted harvests, alongside a persisting decline in wine consumption, particularly red wines. France's subsidization of vine removal, a strategy not without its critics, aims to balance supply in a shrinking market.

Agriculture Minister Annie Genevard emphasized the government's commitment to revitalizing the wine industry, even amid a strained budgetary environment. The proposed financial support hinges on the passing of a new finance bill, underscoring the government's resolve to ensure the industry's sustainability and growth.

(With inputs from agencies.)