Kathy Lee & Hoda are up in arms. They may not be able to tap the wine Rockies as much as they do on Wine Wednesdays. According to a report this week by Morgan Stanley Research, there was a global undersupply of about 300 million cases of wine in 2012, the largest deficit recorded in almost 50 years. Yes, there is a global wine shortage.
In Spain, France and Italy–the world’s three largest wine-producing countries making 60 percent of the world’s wine–has sharply decreased as less land is being used to grow grapes. Meanwhile, wine consumption worldwide has increased 8 percent since 2000. The report finds that wine production peaked in 2004 and has been steadily declining ever since.
Keep your grapes close and your wine bottles closer.
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