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It seems the problem is we’re all drinking too much vino, at least in the US and China.
Statistics put together by Morgan Stanley Research show a shortage last year of nearly 300 million cases with the problem only getting worse.
Quartz reports lower production teamed with extra demand will make this year’s crisis, already the worst in 50 years, even worse.
CNN-Money blames unfriendly weather in France and Argentina for part of the 5% decline in production. They point out Spain and Italy had poor seasons as well.
Quartz writer Roberto Ferdman is confident things can turn around but it won't be easy. "Europe, which has easily been suffering the steepest decline in wine production (roughly 25% since 2004) will have to reverse its recent bout of poor harvests well into the century to continue supplying the world," he noted.
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