Last week when Morgan Stanley released a report that showed worldwide wine demand exceeded supply by nearly 300 million cases in 2012, the financial analysts created a bit of industry buzz when they suggested that the shortfall, the greatest in the last 40 years, may not be just a short trend and there may not be enough wine in future years.
But the report was quickly downplayed by most inside the wine industry, as this article in the San Francisco Gate points out. Wine experts in California and the world argue that the industry is in fine shape and that much of the reduced production has been intentional because of a wine glut. Wine production has actually increased significantly and consumption is stabilizing according to many, with California's harvest this year expected to reach 4 million tons, nearing last year's record. To read more, click HERE.