29 August 2023
By Jiwoo Park
France has been recognized for its wine but now is in a situation where they have to dispose of it due to the demand fall. Washington Post has reported that France has used about €200m to dispose of about 6,600 gallons of wine.
This is mainly to maintain the price of the wine. While the cost of creating wine is increasing, the demands are decreasing and the wine farm and wine-producing areas are having difficulties gaining profit.
The decline of the price of wine has already been a problem. After it reached the highest amount of wine consumed in 1926, 136 liters per year, it has gradually decreased through COVID and climate change.
Marc Fesnea, Agriculture and Food Minister of France, has stated he’ll try to stop this price collapse so the wine manufacturer can gain profit again.
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