New research warns of worldwide wine shortage - WFLA News Channel 8

New research warns of worldwide wine shortage

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Redneck Wines Redneck Wines
TAMPA, FL (WFLA) - It's a sobering thought-- a worldwide wine shortage could be looming. A new study released by Morgan Stanley Research reveals there was an undersupply of about 300 million cases of wine in 2012. And while wine consumption is increasing, production isn't keeping up.

"We know that more people are drinking wine now. The increase in wine consumption is definitely visible," said Joe Zamrin, co-owner of the Redneck Wine Co. in South Tampa.

Zamrin has seen wine grow in popularity over the last few years, especially among young people. The United States and China are both countries where wine is increasingly popular, and that's putting a strain on world supply.

But Zamrin doesn't think consumers need to be worried about empty shelves anytime soon.

"There may be some truth to the numbers, that maybe in the next couple of years we see an impact on supply, but I would be shocked if we see empty shelves as a result of it," he said.

European countries such as France, Italy and Spain produce most of the world's wine, but production there has decreased in recent years. Zamrin predicts countries like Argentina and New Zealand will step in and fill the void.

"If certain categories look like they're drying up, other categories will fill in the gap," he said.

That could take a few years to happen, so what consumers may see is an increase in wine prices in the short term.

But Zamrin said wine lovers don't need to run down to the store and stock up.

"No need to do the bread and water trick," he said. "I'm sure there's plenty of backlog in the supply chain right now."
   

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