France Is Spending 200 Millions To Destry Surplus Wine! You MUST Know Why?
Image Credit : Google
Image Credit : Google
French government allocated 200 Million Euros (Rs 17,82,29,92,656) to destroy surplus wine.
200 Million Euros
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The reason is to provide aide to wine producers who are struggling currently.
To Support Wine Makers
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Owing to the Russia-Ukraine war, many started avoiding expenses on luxury like buying wine.
Russia-Ukraine War
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Growing popularity of craft beer is also a reason that wine is being ignored.
Craft Beer Popularity
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After-effects of COVID-19 have also added to the problem.
Covid-19 Aftermath
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Wine overproduction is also the reason that French government directed to the destruction.
Wine Overproduction
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A huge part of money will be used for buying excess stock and alcohol extract from it will be sold.
To Buy Excess Alcohol
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The sell will be made to companies who will use it for items like cleansing products, hand sanitisers, perfumes, etc
Cleansing Matetial
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The allocation aims at stopping prices collapsing so that winemakers can find sources of revenue again.
To Halt Price Collpase
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European Commission data this year till June revealed that the wine consumption has fallen 15 per cent in France.
15% Fall In Wine Purchase