Oct. 31–Wine lovers received some alarming news recently: Morgan Stanley issued a report this week projecting a global wine shortage.
As my colleague David Pierson reported Wednesday, poor weather ravaged European vineyards, causing global production to dip to its lowest level in more than 40 years.
“After adjusting for non-wine uses, demand for wine exceeded supply by 300 [million] cases in 2012, the deepest shortfall in over 40 years of records,” the report said.
Prices are expected to rise in the future, and oenophiles might start hoarding. But before you do, click through these photos to see the top 10 wine-producing states in the U.S. (Guess where California ranks?)
If global wine supplies come up short as predicted, perhaps your sommelier can interest you in New Jersey’s finest wine?
The figures on wine production come from the Treasury Department’s Alcohol and Tobacco Tax and Trade Bureau. It issued its report for 2012 production in May.
According to government figures, the U.S. produced 754 million gallons of wine in 2012. The bulk of that wine, nearly 90%, came from California.
