00:00 It's Benzinga and here's what's on the block.
00:02 France is paying winemakers in the famous Bordeaux region to uproot their vines due
00:06 to challenges from climate change and changing consumer habits.
00:09 Access to water is becoming a major challenge for the wine industry in Bordeaux going forward.
00:13 There's also been a historical focus on red wine, but consumers are drinking less
00:16 wine and more beer and lighter wines now.
00:19 Between June and July of 2023, there were 584 requests from winemakers in Bordeaux to
00:24 remove vines or change land use, totaling around 5,000 hectares of vineyards.
00:29 Summer weather is benefiting wine production in countries like Germany, where volume increased
00:33 6% in 2021.
00:35 The UK wine industry is also growing as hectares of vines have quadrupled since 2000.
00:39 For all things money, visit Benzinga.com.
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