French wine production heads toward 70-year low

France's wine production is heading toward its lowest level in roughly 70 years, signaling an unusually severe contraction in output from one of the world's largest wine-producing countries.
Lower production could tighten supply across parts of the global wine market and increase pressure on producers already dealing with changing demand and production costs.
The eventual market impact will depend on inventories, regional production differences and demand across domestic and export markets.