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After years of commuting, the French wine metropolis is now in motion. According to the French industry magazine “Vitisphere”, an agreement was recently reached at the Salon d’Agriculture trade fair in Paris with the French government aimed at paying financial compensation to vineyard owners for uprooting unproductive vines.
The removal of some 9,500 hectares of vineyards aims to help rebalance wine supply and demand in the cheapest Bordeaux segment. Especially in recent years, many vineyard producers have had great difficulty selling all their wines, as the appetite for cheap Bordeaux has waned in key selling markets such as China or the USA.
Wine becomes schnapps
Until recently, Bordeaux vineyard growers were forbidden from receiving compensation for uprooting their vineyards to lay their land fallow or to use it for other purposes. After several strikes, the French government promised financial aid to affected viticulturalists as a first step to convert unsold wines into bioethanol.
In addition, according to «Vitisphere», in a second step, 57 million Euros will be released, 38 million Euros from the French government and 19 million Euros from the CIVB (Conseil Interprofessionnel du Vin de Bordeaux) to finance the removal of the vines. ). However, it is unclear whether the problem of selling cheap Bordeaux will be solved by simply reducing the supply, as French wine consumption has been declining for years, and international wine competition has increased significantly, especially in the lower price segment.
Source : Blick
I am Dawid Malan, a news reporter for 24 Instant News. I specialize in celebrity and entertainment news, writing stories that capture the attention of readers from all walks of life. My work has been featured in some of the world’s leading publications and I am passionate about delivering quality content to my readers.
