Global wine shortage hits home
Updated On: Oct 30 2013 06:46:48 PM CDT
A new report says the world is on the verge of a wine shortage. This is said to be the "deepest shortfall in 40 years". Duplin Winery in Duplin County is seeing a shortage this year for the same reasons the rest of the world is experiencing.
The report was released Monday by Morgan Stanley, a financial services giant. The report stated two main reasons for the decline in wine. The first was hard-hitting weather across the globe. The second was an increased consumption. Droughts and hail were the big vine-killers for producers in France and Italy, two of the biggest producers. In Duplin County, the culprit was rain.
Early spring rains inundated crops and caused vines to produce fewer grapes. The late summer sun helped to sweeten the grapes for harvest, however. Still, most of the farmers that supply muscadine grapes for Duplin Winery experienced loss.
"I haven't talked to all of them but the ones I did talk to all experienced the same thing, somewhere between 30 to 50% less yield this year." says Brad Hawkins, a contract farmer for Duplin Winery.
Owner of Duplin Winery, Dave Fussell Jr. says sales have been up this year. This matches what the global study found. According to the report, global consumption of wine is up. This is the second reason for the shortage. France is the leader in consumption followed by America which is responsible for buying 12% of the world's wine.
Fussell says despite fewer grapes and increased sales, they are doing everything they can to keep the prices of their muscadine wine steady.
"A lot of local people enjoy our wine and we're working hard to keep those prices down." says Fussell.
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