There's just not enough wine in the world, says Morgan Stanley, and the problem is only going to get worse.
The industry is experiencing an "undersupply of nearly 300 million cases" a year, according to a report from Morgan Stanley Research.
But that's not enough to keep with worldwide demand.
Global production fell by more than 5% last year – to its lowest level since the 1960s – primarily do to bad weather in France and Argentina.
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