Og-Mhadainn/h’ og maidne (or Happy New Year!)

4thJan. × ’10

So, the start of a new decade and maltinchina is contemplating what the next ten years will bring for the whisky industry in China. Let’s take a quick look back….

2000 – Spirits tariffs are 100%

2001 – Scotch whisky sales in China are $2 million. China joins the WTO and import duty on spirits drops from 65%. Pernod Ricard launches Chivas Regal in China.

2003 -Tariffs on spirits drop from 56% to 37.5%. Erdrington / Macallan opens a representative office in Shanghai.

2004 – over 137% increase in volume and 122% in sales over 2003 (GBP25 million in sales). Chinese translation of Robert Burns’ poetry publishded

2005 – 85% increase in whisky sales, China’s mainland is now world’s 11th largest scotch whisky market – 20 million bottles / GBP46 million. Whisky import tariff dropped to 10%.

2006 – Imported spirits still only make up 1% of China’s spirits market, indicating there is still plenty of room for growth. Some reports put Scotch whisky sales at $1.1 billion.

2009 – Whisky sales reach GBP80million in sales in China’s mainland. The first dedicated whisky auction is held by Bonhams in Hong Kong, with 100% of the lots sold.

So the whisky market has really gone through the roof in the past ten years, and new distilleries are being built across Scotland in order to meet demand…. so what are maltinchina’s predictions for the next ten years?

  • Hong Kong to drop import tariff on whisky from 100%, providing support for the collector’s market in Asia
  • Single malt sales to gradually increase in proportion to blended whisky sales
  • Global prices for whisky to drop towards the end of the decade as new supply reaches maturity and comes onto the market
  • Good quality whisky is produced locally in China for the Chinese market

In any case, wish you all much happiness and success in 2010! Slainte!

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