France and the EU plan to spend 215 million euros to support wine producers

KYIV. August 27. UNN. The French government and the European Union will allocate 200 million euros to help wine producers in the country, who are struggling with falling prices and declining demand, writes CNN, UNN reports. Details France's agriculture ministry initially allocated 160 million euros to an anti-crisis program that allowed some producers to sell excess stocks to distilleries, which then turned them into other alcoholic products, such as hand sanitizer. Strong demand for the voluntary buyback program, announced in June, has prompted authorities to increase its budget to $200 million, the agriculture ministry said in a statement on Friday. Addition As of 2020, France was the second largest producer of wine and the largest exporter of wine. But the industry has suffered since the Covid-19 pandemic due to inflation and changing consumption patterns. Increasingly low yields due to climate change also threaten the future of French vineyards. A good harvest last year, ...