CNBC reports that inventories of wine are experiencing shortages, meaning that it’s about to get much more expensive to have that glass of pinot with dinner. Or we can all take a page from our inmate population and start drinking toilet wine. That wouldn’t be fun. Or safe. For anyone.
As demand for beer decreases and demand for mixed drinks and wine increases-at an expected growth rate of around 7-11% this year-suppliers are facing the end result of a supply decision they made during the recession. According to Rob McMillan of Silicon Valley Bank’s wine division:
To correct an oversupply of high-end wine during the recession, wineries had to move the excess supply through the distribution channel so later vintages could sell at a normal price, McMillan said. But inventories have since pared the excess supply, and several varietals are now experiencing shortages.
That, combined with the slightly small harvest this year makes it apparent that shortages are coming. Supposedly high end Cabernets and Zinfandels are “clearly short” while the closest to being normal are Merlot and Syrah. Everything else in between is presumably on the shorter side, which means less wine to help you get over the pain of losing your house. And having no money.
[CNBC, Image Credit: ol_vic/Shutterstock]
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