December 22, 2014
It could be troubling news for wine lovers.
The industry is experiencing an "undersupply 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% of the world's wine, but produces just 8%.
The French drink more wine than any other country.