French authorities will divert 200m euros to aid winemakers who are struggling with declining demand for wine. This has been reported Finance Times.
The publication states that the French Ministry of Agriculture has received approval and financial support from the European Union to implement a program in which excess wine is converted into ethanol, which can be sold for industrial use such as perfume production.
The publication emphasizes that much of the aid could go to the Bordeaux and Languedoc regions.
Before that, wine producers in the Bordeaux region of France need They would have to receive compensation from the government for the excess of unsold wine.
According to the winery owners, demand and prices for their products have collapsed due to the French overproduction and changing consumption habits.
Wine consumption in France is said to have fallen by two-thirds over the past 60 years. This was especially true for red wine. So a study conducted in November last year showed that the amount of red drunk has decreased by 32% in the last 10 years, and most of those who refuse to drink are people between the ages of 18 and 35.
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