There's always a lot of talk about the OPEC oil cartel, even in the trade context, but what about the French champagne cartel:
A looming shortage of the bubbly French wine, spurred by limits on grape production and rising demand in the U.S., Japan, and the U.K., will push shares of champagne producers higher.
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"If the champagne craze continues at the current pace, winemakers won't be able to satisfy demand and prices will skyrocket,'' said Laetitia Delaye, analyst at Landsbanki Kepler in Paris, who has been following French beverage companies for three years.
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The fizzy wine can be produced only in the 34,000-hectare (84,000 acres) Champagne region under strictly defined rules that include producing no more than 15,000 kilos of grapes per hectare.
I think we can safely rule out a WTO complaint any time soon. Similar legal arguments perhaps, but it just doesn't arouse the same broad-based consumer outrage as do high gas prices.
