Cold spring weather crushes French winemakers. This year’s harvest may fall significantly

Spring has not really started yet, and French winemakers are already estimating the damage that the current cold weather will do to their vineyards. The decline in this year’s harvest could mean up to 15 million hectoliters of wine less than the long-term average. 

Yields from French vineyards could be 28 to 32 percent lower than usual due to spring frosts. “This year’s frost was something special. Also because it affected such a large part of the vineyard area and that it spread far to the south of the country, “said Ygor Gibelind from the wine division of the French FranceAgriMer for Reuters. France would thus produce about 32 million hectoliters of wine, which would be 4 million hectoliters less than in 2017, when winemakers were also plagued by unfavorable weather in the spring.

The frost hit traditional wine regions such as Burgundy and Bordeaux the hardest, where cold weather affected 30 to 50 percent of the vineyards. If the current estimates are met, then the damage suffered by French winemakers could reach 1.5 to 2 billion euros. The French government has already announced that it will allocate around one billion euros to farmers who suffer damage as a result of unfavorable spring weather. Winemakers would also reach part of it.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Forbes: CE Industries Owner Strnad to Invest Part of His Companies into Investment Fund

Jaroslav Strnad, owner of CE Industries and Helicopter Alliance...

Coinomi Review: Is This Crypto Wallet Safe or Falling Behind?

Coinomi is one of the longest-running cryptocurrency wallets on...

crypto4me: regulated crypto service brings easy cryptocurrency purchasing within European license

crypto4me – The European cryptocurrency market has undergone significant...

What Is Volatility and Why It Drives Returns

Volatility is one of the most frequently discussed concepts...

What Is a Crypto Airdrop: How Free Token Distribution Works and How to Profit From It

Crypto airdrops have become one of the most talked-about...

Portfolio Diversification: How to Reduce Risk

Portfolio diversification is often presented as a basic rule...
spot_img

spot_imgspot_img