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global wine shortage getting worse

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[caption id="attachment_72702" align="aligncenter" width="321"]global wine shortage global wine shortage[/caption]World in the Midst of Global Wine Shortage

The world is in the midst of a global wine shortage which appears to be getting worse, but you might not think that on your next stroll down the alcohol aisle at the grocery store or the Wine & Spirits store.

However, according to the reputable group Morgan Stanley Research there is a shortage of roughly 300 million cases annually. To gauge the size of that, the current total wine market is believed to annually produce 2.8 billion cases of the drink based on the fruit of the vine. This would suggest that total supply is roughly 11% less than the demand.

Two of Morgan Stanley Research's analysts located in Australia, Cyrstal Wang and Tom Kierath, believe that recent inclement weather in Argentina and France will further exacerbate the difference between supply and demand. For the year ending 2012, global demand for wine rose by 1% but the supply decreased by 10%.

It's not as if there is a dearth of suppliers. It is estimated that there are one million makers of wine. Europe is a major exporter of wine currently dominating 50% of the global market. However, wine production is heavily dependent on the weather which as of late has slowed production in critical markets.

On The Web:
global wine shortage
http://money.cnn.com/2013/10/29/news/economy/wine-shortage/index.html

Sidney has been with eCanadanow since 2010.

As well as covering sports, entertainment and tech news, Sidney also handles the majority of the server related issues as well.

If you have a question or comment for Sidney, you can reach him at [sidney at ecanadano.com]

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