The industry is experiencing an "under-supply of nearly 300 million cases a year."
MIDLAND, TX -- There is troubling news for wine lovers. The industry is experiencing an "under-supply of nearly 300 million cases a year." That's not enough to keep up with worldwide demand, according to a report from Morgan Stanley Research.
Global production dropped by more than five-percent last year, mostly due to bad weather in France and Argentina. America consumes 12-percent of the world's wine, but produces just eight-percent. The french drink more wine than any other country.
(Story from permianbasin360.com)
Copyright 2013 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.