GOLD HILL, Ore. — A new report suggests a wine shortage will continue to be a problem worldwide, but here in the Rogue Valley both production and sales of wine are up.
The report by Morgan Stanley shows a global shortage of about 300 million cases a year. The shortage could be linked to a decrease in production in Europe over the past two years due to poor weather conditions for vineyards.
The report shows global production dropped by more than 5% last year, mostly due to bad weather in France and Argentina. Americans consumes 12% of the world’s wine, but produces just 8%. In the Rogue Valley, local wine makers say the wine industry is booming and demand is high. They say the majority of local wine is sold on the local market and a smaller portion is exported.
Wine makers say the weather in Oregon is ideal for vineyards and has led to a steady production over the past several years. Poor weather conditions in Europe and other markets in the world have led to a decrease in supply, and with demand not going away, wine makers say this could be an opportunity to expand exports.
“In our case, what we see happening is if the world market is low, we may have more options or it’s easier to export, especially in China,” explained Jean Michel Jussiaume at Del Rio Vineyards.
Because of the aging process, and the back to back years of bad weather in France, the real effects of the decrease in production could be yet to come. Del Rio Vineyards plans on expanding and growing more vines in the near future to keep up with the demand.