Whisky drinking and collecting is becoming more popular than ever across the globe, subsequently leading to higher demand of consumption. In one country in particular, Japan- demand completely outstrips the supply.
In recent whisky related news Japanese drinks manufacturer Suntory, has announced that they will be increasing domestic prices of some of their in-house and imported whiskies by up to 28 percent next Spring 2022. In aim to meet the significantly increased demand across the globe Suntory has been investing largely in additional casks and storage warehouses in recent years, however have been unable to keep up with the rising demand of their products.
Consequently Suntory has made the decision to increase the domestic price of 31 different products from eight brands of whiskies they produce and import. The end goal of increasing these prices is to utilise the profits as capital to increased distilling capabilities and storage capacity. The brands set to see an increase in Spring are Hibiki, Yamazaki, Shirasu, and Chita, as well as the Scottish whisky brands Macallan, Glenfiddich, and Balvenie and the Irish whisky Tullamore D.E.W, which Suntory has a monopoly on importing to Japan.
Suntory’s less expensive whiskies will not be increasing hugely in comparison to the higher priced brands. Suntory has released a full list of all the products whose prices will rise, products with a retail price under 10,000 yen will be seeing rises of less than 15 percent.
The more expensive whiskies are seeing the significant price increase. “The 25-year Yamazaki, for example, originally retailed for 125,000 yen, but starting in April will increase by 28 percent, to 160,000 yen. The 30-year and 21-year Hibiki, 18-year Yamazaki, 25-year and 18-year Shirasu, and 30-year Macallan Sherry Oak will all see their prices jump by 28 percent.”
The new pricing released by Suntory is due to go into effect on April 1st 2022, so now is the perfect time to purchase a cask before the price increase.
Elite Whisky & Wine supply a handful of Suntory casks, following this news we are expecting incredibly high demand on Suntory’s brands and only have limited cask stock available, so be sure to get in touch sooner rather than later.