French vineyards have fared better than French politicians this year. Wine production in France is expected to reach 37.4 million hectolitres, up 3 per cent from last year when rain hit volumes, the farm ministry said.
However, this is below an initial range of 40-43 million hectolitres indicated last month. The revised forecast is also 13 per cent below the five-year average of 42.9 million hectolitres. A hectolitre is the equivalent of 100 litres, or 133 standard wine bottles.
Meanwhile, France’s CAC 40 index rose 0.3 per cent today after the ousting of the prime minister Francois Bayrou in a no-confidence vote on Monday, although market nervousness was more evident in the bond market as the premium investors demand to hold ten-year French government bonds over benchmark ten-year German bonds rose 6 basis points.
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