Why the World faces global wine shortage.
The world is facing a wine shortage, with global consumer demand already significantly outstripping supply, a report has warned. The research by America's Morgan Stanley financial services giant says demand for wine "exceeded supply by 300m cases in 2012". It describes this as "the deepest shortfall in over 40 years of records". Last year, production also dropped to its lowest levels in more than four decades. Global production has been steadily declining since its peak in 2004, when supply outweighed demand by about 600m cases.