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The Portuguese government is making available 100 million euros in interest-free loans for winemakers and cooperatives over three years. Part of the money is to go to cooperatives and grape processors so they can pay their suppliers. The initiative is retroactive to the 2023 harvest, allowing outstanding payments to be made to winemakers.
The credit line is part of a strategic plan by the government to support the struggling wine industry. Among other things, it has already supported crisis distillation in recent months with a budget of 18.5 million euros, of which 15 million comes from the EU. Green harvesting and improved communication to strengthen exports have also been promoted. At the same time, the government aims to combat the import of cheap wines from Spain and introduce more efficient controls. Since May, there has been a ban on bringing grapes and must into the Douro region. According to Antonio Mendes, president of the Fenadegas association, which includes 45 winemaking cooperatives with more than 18,000 winemakers and around 30,000 hectares of cultivation area, the wine surplus amounts to 1.2 million hectoliters.
(al / Source: vitisphere)