As we had anticipated, on Wednesday 1 April, the European Commission released €40 million to support French winegrowers (see EUROPE B13840A21).
The funds, drawn from the crisis reserve, will finance a temporary exceptional crisis distillation measure, aimed at removing up to 1.2 million hectolitres of surplus red and rosé wine from the market to stabilise prices.
France’s wine sector is under mounting pressure from shifting consumer preferences, climate change impacts, geopolitical...