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Global Wine Shortage Devastates Grape Guzzlers. Is Chardonnay Hoarding Next?

fifty-shades-of-grey wine shortageThe world's wine supply is drying up, according to a report from Morgan Stanley Research.

Last year, global demand for wine outpaced supply by more than 300 million cases last year. (No confirmation that the shortfall was cause by the ladies of the Real Housewives franchise). The culprit, the study claims, is a combination of fewer vineyards producing and bad weather.

The result: A global wine shortage.

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

According to USA Today

World production peaked in 2004, when the surplus reached 600 million cases. But the latest numbers represent the greatest shortfall in four decades. Americans drink about 12% of the world's wine, and per capita consumption is booming. China, the world's fifth largest importer, has quadrupled its consumption in the past five years.

Production capacity is down 10% in Europe from 2005, with big producer nations such as France, Italy and Spain hardest hit. Add to that a poor wine weather year in 2012, and voilà, you have a wine shortage.

... We're making it as fast as we can grow the grapes," [Woodinville's Chateau Ste. Michelle ] CEO Ted Baseler told the website. "Right now we have about 50,000 acres in the state. I can foresee that we could have as much as 150,000 or more."

A silver lining for winos with discriminating palates: The shortage will mostly affect the prices of cheaper wines—so now may be the time to pop open that bottle of Chateau Lafite Rothschild '61 you've been saving.

Catch everyone's favorite wino, Karen Walker, on Will & Grace on Logo TV, weeknights 5pm and 10ET, and get more W&G goodness on Logo TV.com 

karen walker will and grace

 

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