The European Union disbursed €40 million ($46.4 million) to finance the distillation of unsold French wine stocks to stabilize prices amid dwindling global demand.
The emergency measure will offer €33 per hectoliter to winemakers and cooperatives to distill about 1.2 million hectoliters of surplus red and rosé wines which have witnessed a drop in prices, according to an EU regulation dated March 31. The distilled products will be used exclusively for “industrial purposes, including disinfection and pharmaceutical, and energy purposes.”
Dining and Cooking