Report suggests global wine shortage is coming - New York News

Report suggests global wine shortage is coming

Posted: Updated:
(WJBK) -

Say it ain't so!

A global shortage of wine is fast approaching.

A report by Morgan Stanley Research shows data that suggests there may be insufficient supply to meet demand in coming years. Wine consumption across the globe has increased at such a steady pace that demand could soon topple over the supply.

A major reason is because wine production 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.

Last year there was an undersupply of 30 million cases, which is the largest shortfall in 50 years.

The U.S. and China consume the most wine.

Fox News contributed to this report.

LINK: Click here to read more on foxnews.com

  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
  • Local NewsLocal NewsMore>>

  • Cristobal to churn surf along Jersey shore

    Cristobal to churn surf along Jersey shore

    Wednesday, August 27 2014 9:14 AM EDT2014-08-27 13:14:52 GMT
    Swimmers and lifeguards are facing a high risk for rip currents along New Jersey beaches. The National Weather Service says Hurricane Cristobal is predicted to pass well to the southeast of the New Jersey coast on Wednesday night. Long period swells will spread out from the storm, churning up the surf along Jersey shore beaches.
    Swimmers and lifeguards are facing a high risk for rip currents along New Jersey beaches. The National Weather Service says Hurricane Cristobal is predicted to pass well to the southeast of the New Jersey coast on Wednesday night. Long period swells will spread out from the storm, churning up the surf along Jersey shore beaches.
  • Hunt for forklift robber

    Hunt for forklift robber

    Wednesday, August 27 2014 9:07 AM EDT2014-08-27 13:07:18 GMT
    Authorities on Long Island are asking for the public's help in finding a forklift thief.  The bright yellow vehicle went missing Monday between 2 p.m. and 5 p.m. from its parking spot near a building in Riverhead. One or more people used a flatbed tow truck with a white cab to remove the Caterpillar forklift. Suffolk County Crime Stoppers is offering a reward of up to $5,000 for information leading to an arrest.
    Authorities on Long Island are asking for the public's help in finding a forklift thief.  The bright yellow vehicle went missing Monday between 2 p.m. and 5 p.m. from its parking spot near a building in Riverhead. One or more people used a flatbed tow truck with a white cab to remove the Caterpillar forklift. Suffolk County Crime Stoppers is offering a reward of up to $5,000 for information leading to an arrest.

  • US marshals in Queens shootout

    US marshals in Queens shootout

    Wednesday, August 27 2014 9:04 AM EDT2014-08-27 13:04:47 GMT
    Authorities say a suspect has been wounded in the hand during a shootout with U.S. marshals who were serving a warrant in Queens. The NYPD says they were assisting the marshals when the gunfire erupted late Tuesday in Springfield Gardens. No law enforcers were hurt.
    Authorities say a suspect has been wounded in the hand during a shootout with U.S. marshals who were serving a warrant in Queens. The NYPD says they were assisting the marshals when the gunfire erupted late Tuesday in Springfield Gardens. No law enforcers were hurt.

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 | New Terms of Service What's new | Ad Choices