Is a wine shortage coming? - New York News

Is a wine shortage coming?

Posted: Updated:
NEW YORK (MYFOXNY) -

Morgan Stanley Research found 2012 saw the greatest difference between supply and demand in the wine business in 50 years. So far, that's changed very little for wine consumers in New York, but in the future it could make it a whole lot more expensive to uncork a bottle of one's favorite vintage.

Wine consultant Alec Yankus started drinking professionally nearly 20 years ago.

"Wine has returned to being the drink of the masses," Yankus said.

Yes, a growing number of grape-guzzlers -- particularly in China and the U.S. -- likely deserve some of the blame for this undersupply, but so too does a bad vintage of weather in France and Italy.

"There was a lot of rain and hail in those areas," Yankus said, "and that significantly damaged crops."

The family-owned Garnet Wines & Liquors, where Yankus works, began satisfying palates 32 years ago. Its basement looks the warehouse from Raiders of the Lost Ark. There, we find cases and cases of more than 4,000 different wines.

Garnet's suffered from regional shortages before.

"Prices go up, and that impact can sometimes completely destroy the sale-ability of a section," Yankus said.

Just the prospect of a similar impact on a greater body of wines sent some Garnet customers Fox 5 found into a state of bottle-shock.

"I'm very distressed about it," one man said.

"I think as we get older," a woman said, "We might enjoy a nicer bottle than we did when we were 21."

And drastically rising prices could drive those with picky noses back to wines in boxes and bags. That hasn't happened yet, but Fox 5 did find one man stocking up while he still could.

"Well, I like wine," he said, laughing. "And I don't want things to go up in price."

  • Local NewsLocal NewsMore>>

  • 'Spider-man' slugs cop in Times Square

    'Spider-man' slugs cop in Times Square

    Sunday, July 27 2014 7:54 PM EDT2014-07-27 23:54:59 GMT
    New York City NewsNew York City News
    A man dressed as Spider-Man was arrested on charges he slugged a police officer who told him to stop harassing tourists in Times Square.
    A man dressed as Spider-Man was arrested on charges he slugged a police officer who told him to stop harassing tourists in Times Square.
  • Kayakers breach New York's JFK airport security

    Kayakers breach New York's JFK airport security

    Sunday, July 27 2014 3:46 PM EDT2014-07-27 19:46:29 GMT
    The tower at John F. Kennedy International AirportThe tower at John F. Kennedy International Airport
    Two kayakers have been cited for trespassing after breaching a Kennedy Airport security perimeter.
    Two kayakers have been cited for trespassing after breaching a security perimeter at New York's Kennedy Airport.
  • Woman gets 20-year prison term for fatal stabbing

    Woman gets 20-year prison term for fatal stabbing

    Sunday, July 27 2014 2:32 PM EDT2014-07-27 18:32:05 GMT
    A southern New Jersey woman who fatally stabbed a man last year during an argument in his home has been sentenced to 20 years in state prison.
    A southern New Jersey woman who fatally stabbed a man last year during an argument in his home has been sentenced to 20 years in state prison.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices