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Photo: Garry Knight
Here’s some disturbing news: there's a global wine shortage. A new study from Morgan Stanley reports that last year, the planet's demand for wine exceeded the supply by about 300 million cases (that's 2.7 billion bottles). While the exact reason for the shortage is hard to pinpoint, it’s partly because of the increasing appetite for wine in the US, where people are guzzling twice as much wine as they were in 2000. (In fact, we’re almost out-drinking France!)
Some bad weather last year is also to blame, but the good news is that 2013’s harvest has produced a lot more grapes than last year’s. Whether or not that’ll fix the issue seems up for debate, but if the wine industry is unable to work this out, we’ll all have to start shelling out a lot more for our pinot. If only we could turn water into wine!