Now For Something REALLY Scary…The World Is Running Out Of Wine
Take a moment to relax with a nice glass of wine...while you still can.
Morgan Stanley's research team has released a report discussing world production and consumption of wine, noting that production has been declining since 2004.
The report by Morgan Stanley's analysts Tom Kierath and Crystal Wang says global wine consumption has been rising since 1996 (except a drop in 2008-09), and presently stands at about 3bn cases per year.
At the same time, there are currently more than one million wine producers worldwide, making some 2.8bn cases each year.
The authors predict that - in the short term - "inventories will likely be reduced as current consumption continues to be predominantly supplied by previous vintages"
European wine production has been hardest hit. Many other wine-producing countries, including the United States, could benefit from the shortfall which is expected to lead to higher prices and more exporting to Europe.
There are some who disagree, saying that global wine production is actually rising.
Either way, there's no doubt the world is drinking a lot of wine.
France leads the world in consumption of wine, drinking about 12% of the world's supply. The United States ranks second, just barely behind France.
We can do better.
Go ahead and drink some wine before it's all gone, your country needs you.