Jobaaj Stories
According to the European Commission, Wine consumption for the ongoing year seems to have fallen 7% in Italy, 10% in Spain, 15% in France, 22% in Germany, and 34 % in Portugal.
Reportedly, Such a fall in demand for wine has even led to overproduction, which has caused major difficulties for the winemakers (one in three) of the Bordeaux region, according to the Association of Farmers.
On Friday, news on the wine market surfaced in France in which the French government made it public to spend almost Rs. 200 million to fund the destruction of surplus wine production in order to support the struggling producers and raise the prices.
French Agriculture Minister, Marc Fresneu told the reporters that initially the amount set aside was about Rs. 160 million which has been topped up to the current value. He further stressed the need for the industry to think about consumer changes and adapt accordingly.
There are various wine-producing parts of France that have been influenced by the ongoing situation Languedoc which is known to be the largest wine-producing area has also been affected by the fall in demand for wine.
However, It has come to the knowledge that alcohol from the destroyed wine will be used in some non-food products like sanitizers, perfumes, etc., and will be sold to the respective manufacturers.
As per reports by World Population Review, After Italy, France is the country known to be the largest producer of wine.
Also, Read, ICSI CS June 2023 Results: Check CS Executive & Professional Exam Outcome
