OH NO! According to a report over at Quartz, wine production simply isn’t keeping pace with demand. Here is a snip:
Last year, global supply for wine already barely exceeded demand. Adjusting the demand to include non-wine uses (such as making vermouth), there was actually an undersupply of about 300 million cases, marking the largest such shortfall in almost 50 years.
I love wine, and the thought of limited supply – which will lead directly to rapidly increasing prices – is terrible!
But apparently not everyone is buying it. Over at SFGate they are saying that despite demand, increasing production and better means of controlling production, means needs will continue to be met:
“Analysis of this sort is a bit of a challenge,” he said. “Spain, Italy and France had much better harvests this year than what was expected – even increases over previous years. There’s no looming shortage that we can see, barring some unforeseen shock to supply or demand. All you have to do is look at bulk wine pricing, which has really been coming down, to realize there’s no shortage.”
In other words …