Fears Rise Over Potential Wine Shortage
Are we facing a global wine shortage?
I don’t know if it’s people drowning their sorrows in alcohol because of the damage the economy has done to us or if people just really like their wine, but people in the U.S. and China are drinking more than ever. A lot more. So much that vineyards can’t keep up with the demand. This translates to a possible wine shortage.
According to Morgan Stanley, the wine industry is under supplied by roughly 300 million cases a year and this is actually the worst dry spell in 50 years.
On top of that, top wine-making countries like France, Spain and Italy are producing less because of land issues, harvest problems and bad weather.
And…just when you thought it couldn’t get even worse- the shortage means the cost of wine will go up.
So my advice if you simply can’t live without your nightly glass (or glasses) of wine? Stock up now while you still can.