A global shortage of wine is just around the corner. That's according to a new research report from Morgan Stanley. But some locals tied to the wine industry aren't so sure.
"If it is true that actually bodes well for the American grower," said Nat DiBuduo, President of Allied Grape Growers.
Nat DiBuduo, President of Allied Grape Growers, says the U.S. Is the 4th largest producer of wine in the world. California accounts for 90% percent of its total. DiBuduo says the golden state is in great shape when it comes to a supply of grapes after having a terrific harvest this season, as well as last year.
"Down the line it could be a problem, but it's a problem if you want to drink a foreign wine. It's not a problem is you want to drink a California wine," said DiBuduo.
The basis of the report surrounds problems in Europe. It had a weak harvest last year. Meanwhile, Spain, France and Italy, the world's top three wine producers, have reduced the amount of land used for growing grapes.
"We're expecting that demand will increase in the new consuming countries," said Dr. Hend Letaief of Fresno State.
Fresno State's Dr. Hend Letaief says China and the U.S. are estimated to each drink 400 million cases of wine by 2016. However, other nations could start to drink less wine.
"We can't predict how the consumer will behave in the future. There is a lot of change from one year to another," said Dr. Letaief.
Chuck Van Fleet, owner of Vino & Friends in Fresno, says his shelves are full and he doesn't see that changing now or in the future.
"We sell the majority of our wine is California's. So when people are worried about a shortage of wine, we're not going to have to worry about that here, so you don't have to run out and start hoarding all the wine and things like that. I haven't seen anyone shut us off yet," said Chuck Van Fleet, owner of Vino & Friends.
Van Fleet says there are so many grapes out there, it may eventually drive down the price of your favorite bottle of wine.
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