THE POUR WEEKLY: Export Crisis Edition

The week of February 10, 2026 brought stark data confirming what industry insiders have feared: French wine is facing its most severe export crisis in a generation. Meanwhile, Brussels unveiled new lifelines for growers, Switzerland raised its drawbridge, and the great bifurcation between luxury and every-day wine accelerated.

The Headline: France’s Export Machine Stalls

French wine and spirits exports have collapsed to their lowest volume in at least 25 years, ceding the country's traditional position as the second-largest export sector to aerospace and cosmetics

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According to data released Tuesday by the Federation of Wine and Spirits Exporters (FEVS), total exports dropped 3% in volume to 168 million cases—the lowest level since records began in 2000—and fell 8% in value to €14.3 billion, a five-year nadir

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The slump cuts deeper than mere statistics. "Geopolitical tensions, trade conflicts, exchange rate fluctuations, and the loss of household confidence have weighed on our exports," said FEVS president Gabriel Picard, warning that without improved market access, 2026 could bring further pain

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Trade Wars: When Tariffs and Cognac Collide

The dual punch from Washington and Beijing drove the downturn.

United States: Despite remaining the top export market, sales to the U.S. plummeted 21% in value to €3 billion, with volumes sinking 9% below 30 million cases

. The culprit: a 15% tariff imposed in August 2025 following earlier threats of levies as high as 200% from the Trump administration

. The uncertainty triggered precautionary stockpiling in late 2024, followed by a demand cliff as American distributors balked at rising prices.

China: A separate disaster unfolded in Beijing, where anti-dumping duties targeting EU brandy—retaliation for Brussels' electric vehicle tariffs—decimated cognac sales. Exports to China collapsed 20% to €767 million, with cognac specifically suffering a 24% value drop and 15% volume decline

. "Geopolitical tensions between France and China marked the end of cognac in China," Picard noted grimly. "Stopping something doesn't take long, but rebuilding takes a long time"

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A strong euro compounded the misery, making Bordeaux and Burgundy pricier for foreign buyers already facing tariff sticker shock.

Brussels Fights Back: The "Wine Package"

Responding to the crisis, the European Parliament approved a sweeping "Wine Package" on February 10 by a decisive 625-15 vote, introducing new tools for a sector under siege

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Key provisions include:

• Crisis Distillation & Grubbing-Up: EU funds can now support "grubbing-up" (vine removal) to combat overproduction, with payment ceilings for distillation set at 25% of national funds

  . This comes as France alone allocates €130 million ($150 million) to uproot vines

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• Alcohol-Free Labeling: Strict new rules mandate "alcohol-free 0.0%" for wines under 0.05% ABV and "alcohol reduced" for wines above 0.5% but at least 30% lower than standard strength

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• Export Lifelines: Promotional campaigns in third countries now qualify for up to 60% EU financing, with member states adding 30% for small producers

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• Wine Tourism: New funding streams target rural economic growth through cellar-door tourism

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Rapporteur Esther Herranz García called the legislation "a timely and effective response to the crisis," though industry body CEEV warned that "EU law cannot resolve all the challenges we face"

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Fortress Switzerland: Protectionism Returns

While Brussels opens wallets, Bern appears to be closing doors. Swiss vineyards, battered by an 8% drop in domestic wine consumption in 2024, are pushing for a return to pre-2001 import restrictions that would tie foreign wine import rights to sales volumes of Swiss wine[

The proposed protectionist measures would restore a quota-style system effectively limiting European imports—a particularly bitter pill for EU producers who view Switzerland (with its 45% tariffs and €40 billion-plus trade surplus) as a critical premium market. With Swiss wines suffering disproportionately from the consumption decline, local growers argue survival requires shielding from foreign competition. Rather than try to be more competitive through Marketing, Pricing and Quality..

The Great Divergence: Luxury vs. Extinction

Yet amid the gloom, a stark market bifurcation emerges. While bulk wine struggles, the ultra-premium segment shows remarkable resilience.

Fine Wine Defies Gravity: Bottles retailing above $250 continue moving, with the global luxury wine market projected to reach €30 billion in 2024

. Collectors are paying vertiginous prices for small-production allocations even as supermarket wine sales contract. The message: wealth is retreating to scarcity, leaving the middle market to wither.

The Human Cost: This bifurcation claimed a celebrated casualty this week. Margins Wine, the Santa Cruz-based natural winery founded by Meghan Bell, announced it will shutter its tasting room at the end of April after a decade in operation

. A pioneer in California's natural wine movement who championed transparency in winemaking, Bell cited debt and unsustainable industry economics as forces too powerful to overcome—despite critical acclaim and a loyal following.