Americans could be hit by wine shortage

Americans should sip their wine sparingly – because there could be a global shortage of the grape.

And it is feared wine prices could shoot through the roof because of a fall in production and growing thirst for wine among Americans, a report from Morgan Stanley reveals.

“Data suggests there may be insufficient supply to meet demand in coming years, as current vintages are released,” said the report.

Production capacity has dropped to the point where today it is 10 percent lower than in 2005, especially in France, the world’s top producer.

To make matters worse, last year the weather was bad for wine makers.

“As consumption turns to the 2012 vintage we expect the current production shortfall to culminate in a significant increase in export demand and higher prices for exports globally,” the study adds.

Things could also be bad in Europe, which produces a lot of wine but also drinks a lot.

The French remain the world’s leading wine drinkers, with consumption rising since 2010 after years of decline, as was the case elsewhere in Europe.

But Americans are drinking more and more of the stuff, the researchers said.

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