Wine organizations have subsequently dismissed outcries earlier this year of a looming global wine shortage because of predicted increased demand from China and India in particular outstripping supply that has been lowered by recent poor harvests. According to the Organization of Vine and Wine (OIV) production for 2013 has increased significantly – driven by Romania, Chile, and New Zealand. In 2013, the world should produce 281 million hectoliters of wine – up from an estimate of 258 hectoliters, bringing production back up to levels not seen since 2006 despite there being 300,000 less hectares of vines in production compared to that year. Also, new markets are emerging. Poland has just hosted its first Union Des Grands Crus tasting and according to the founder of The Wine Investment Fund, Andrew della Casa, demand from developing countries augments tradition demand scenarios and that if current trends continue, more countries will be entering the market. India is the likeliest candidate. Recent talks of immediately reducing import tariffs could open up that significant market within one to five years. In Europe beginning in 2016 vine planting regulations will be reformed and regulators from 21 governments met to explore ways to expand wine trade in the Pacific Rim. According to the Wine Institute wine consumption in the 21 Apec countries more than doubled between 1990 and 2012 while the value of Apec wine trade more than tripled from $7 billion to $23 billion between 2000 and 2012. As global regulations are reformed and new markets emerge, the wine industry is viewing expansion.
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