GLOBAL WINE SHORTAGE?
Some bad news you may have missed: Last week CNN Money reported that global wine production suffered a 60-year low in 2017. When rising demand couples with depressed supply, that means a sharp rise in prices.
Climate change may be mostly to blame: Europe was smacked by hailstorms and frost in the spring of 2017, followed by a drought. South Africa likewise continues to suffer drought. You may have heard about Cape Town's horrifying water shortage.
On the one hand this is a problem especially for large-scale producers who depend on large volume on small margins. On the other hand this makes wineries and vineyards all the more valuable as investments, because demand is sure to continue outstripping supply.
For those of us who love wine, this development underscores the critical importance of depending on wine made by producers we trust not to use unnecessary or toxic additive chemicals—even if the wine costs more. By all means drink what you love, but be aware that wine is more like food than like clothes. When you buy cheap, you're not getting a deal on shoes at Ross, you're buying a taco on the $.99 menu.