Planet Surplus – we are afloat in good wine

Quote of the week: 'The world wine market in 2003 would have been in balance only if the US, Australia and New Zealand, or Argentina, Chile and South Africa, hadn't crushed a single grape'. And that in 2003 when Europe, by far the world's most significant wine producing continent, had a particularly small crop of wine!

Overall, 'according to the OIV, average grape yields have risen by more than 30 per cent over the last 20 years, due to more productive viticulture.' Over the next few years production is likely to continue to rise at a faster rate than consumption...