Report: World Headed Toward Massive Wine Shortage - Dallas News | myFOXdfw.com

Report: World Headed Toward Massive Wine Shortage

Posted: Updated:
Philadelphia (FOXNEWS.COM) -

Wine lovers beware; we could be headed toward a worldwide shortage.

According to a report by Morgan Stanley Research, global demand for wine is about to outpace 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.

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.

"The data suggests there may be insufficient supply to meet demand in coming years, as current vintages are released," the report concludes.

While Europe produces a majority of the world's wine, consumption is decreasing in old world countries like France, Spain, Italy and the U. K. But the decline in European consumption is greatly offset by an increased demand in countries like the U.S. and China. According to the report, both countries are projected to consume over 400 million cases of wine each by 2016.

The U.S. guzzles roughly 12 percent of the world's wine and has doubled its per capita consumption since the start of the century. In China, wine consumption has increased almost 150 percent in the past five years.

Read more here : http://www.foxnews.com/leisure/2013/10/30/global-wine-shortage-looming-says-report/

  • Local NewsMore>>

  • Girl set to testify in Bryant School school abduction

    Girl set to testify in Bryant School school abduction

    A now 7-year-old girl abducted from her Philadelphia kindergarten and sexually assaulted could testify Wednesday in the trial of a former day care worker.
    A now 7-year-old girl abducted from her Philadelphia kindergarten and sexually assaulted could testify Wednesday in the trial of a former day care worker.
  • Man Robs Olney Dunkin Donuts After Asking For Cup of Coffee

    Man Robs Olney Dunkin Donuts After Asking For Cup of Coffee

    Wednesday, August 27 2014 10:46 AM EDT2014-08-27 14:46:10 GMT
    Police are looking for a man who robbed a Dunkin Donuts in Olney.This happened on August 21 at 8:12 pm while employees were working inside the store located at 5401 North 5th Street. 
    Police are looking for a man who robbed a Dunkin Donuts in Olney.This happened on August 21 at 8:12 pm while employees were working inside the store located at 5401 North 5th Street. 
  • 'Threatened' status sought for monarch butterfly

    'Threatened' status sought for monarch butterfly

    Three conservation groups and a butterfly expert are asking the U.S. Fish & Wildlife Service to list the monarch butterfly as a threatened species.
    Three conservation groups and a butterfly expert are asking the U.S. Fish & Wildlife Service to list the monarch butterfly as a threatened species.
Powered by WorldNow

KDFW FOX 4
400 N. Griffin Street
Dallas, Texas 75202

Main Station Directory:
(214) 720-4444
News Fax:
(214) 720-3263 or (214) 720-3333

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