Florent Latour, CEO of the largest owner of Grand Cru vineyards in Burgundy, spent the summer praying for rain. "We felt we were so close," Latour, who's head of Maison Louis Latour, told CNBC. "Just a bit more rain would have produced a fantastic harvest on both counts, but we had to settle for quality, and about half of a harvest." His prayers — and frustrations — are being echoed across France, as a record-hot summer and severe droughts hit the country's world-famous wine industry hard. France's agriculture ministry has warned that wine production could hit a 70-year low in 2026, marking the third year of reduced output.
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