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EU Vineyards Get Ripped

Filed in archive Wine Making on September 19, 2006

EU Vineyards Get Ripped
It's hard to believe that too much wine can be a bad thing, but I do realize wine makers need to make a living.

But, ripping out vineyards seems like a pretty extreme measure.

From EU Ministers Eye Wine Reform:

A plan to uproot huge swaths of vineyards across Europe is at the heart of the discussion to restore balance to the market. There is talk of ripping out what amounts to more than 10 percent of the vineyards.

The EU head office has said European taxpayers had to fork out $190 million this year to distill unsold wine into industrial alcohol or biofuel to prevent a surplus undermining wine prices. there is concern that increasingly popular sales of wines from Australia, Chile, South Africa and other producers could soon turn the EU into a net importer of wines.

French officials insisted any reform should have a proper "safety net" to ensure vintners don't face sudden ruin.




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Tags: vineyards  wine_making  wine  alcohol  vintner  wines  vineyards+ripped  hedge+funds 

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