Be a part of our #BlueHalloween costume contest, win AWESOME Seahawks prizes

Thirsty? There’s a global wine shortage

LOS ANGELES — There’s just not enough wine in the world, says Morgan Stanley, and the problem is only going to get worse.

The industry is experiencing an “undersupply of nearly 300 million cases” a year, according to a report from Morgan Stanley Research.

Australia-based analysts Tom Kierath and Crystal Wang say the shortage comes despite the fact that there are one million wine producers globally, making 2.8 billion cases each year. About half of winethat comes from Europe.

But that’s not enough to keep up with worldwide demand

Global production fell by more than 5% last year – to its lowest level since the 1960s – primarily due to bad weather in France and Argentina.

Production in Europe alone dropped 10% in 2012, the report said. That same year, worldwide consumption rose by 1%.

For more on this CNN story, click here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


Related Stories