According to reports from Europe, Isabel Bardaji de Azcárate, a speaker at the upcoming Wine Forum and an expert on EU wine policy, tells public about the significant changes that European winemaking is undergoing nowadays.

“Europe’s future will be shaped by vineyard restructuring and substantial investment in promotion.”

National endowments among the overall budget, Azcárate says, will mainly used for programs for vineyard conversion and restructuring and schemes for the promotion of exports to other countries.

Although no information has been published to date as to where most financial aid is allocated or what markets are being targeted, Azcárate is certain that China is attracting considerable investment.

According to the source, the overall budget allocated for promotion abroad for the 2009/2013 period, is 160 million euros in Spain, 279 million euros in France and 275 million euros in Italy.

While it’s believed that there is a current demand for European wines due to the euro’s fall. She thinks the better results achieved in exports, due to the euro’s fall, contributes to restore market balance and to improve the very unsatisfactory outcomes produced by the economic crisis.

Relating to the issue of vineyard restructuring taking place in Europe, she said the removal is to represent a 4% average reduction in the European annual production. This translates into an improvement in the average quality of European production.

Source: Winesur

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