EU WINE CONVERSION SUBSIDIES
October 1st, 2005
BY ALAN OSBORNTHE EUROPEAN Commission has decided on an unchanged figure of Euro 450 million for conversion and restructuring in the European Union's wine sector in 2005/6 in spite of a high level of compulsory distillation this year so far. This has followed bumper crops of vines this year, causing stock-building and price collapses in France, Italy, Spain, Greece and Hungary recently. With so much wine unsold one would expect heavier spending on conversion to upgrade vineyards to produce the more popular quality wines. But Johan Reyniers, Commission wine ...
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