French Vineyards Divert Unsold Wine Into Ethanol

The Irish Times reports that the European Commission has approved a €40 million emergency scheme to help French producers remove surplus red wine and rosé from the market by distilling it into ethanol and industrial alcohol. The move comes after weaker drinking demand and softer exports pushed average bulk prices down 19 per cent, with Brussels warning that oversupply could deepen the crisis if stocks are not cut back.