France to Cut Vineyards Amid Declining Global Wine Demand Chris Lehoux, October 4, 2024 Photographer: Nathan Laine/Bloomberg France, recognized as the leading wine producer in the world, has secured €120 million ($132 million) in funding from the European Union to uproot a portion of its vineyards amid decreasing global demand. The European Commission has sanctioned funding for the permanent removal of vines, offering €4,000 per hectare, as stated by an agriculture ministry announcement. This funding is expected to lead to the reduction of approximately 30,000 hectares (116 square miles), equating to about 4% of the total area, based on calculations from Bloomberg. About the Author: Chris Lehoux Meet Chris Lehoux, an experienced wine connoisseur and dedicated blogger with a deep passion for all things wine-related. With years of expertise in the industry, Chris shares insightful wine reviews, valuable wine tasting tips, expert pairing advice, and captivating tales of vineyard visits. Join Chris on a journey through the world of wine, where every sip is an adventure waiting to be savored! Wine