This is an AI translated post.
Suntory Japan announces price increase
- Writing language: Korean
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Summarized by durumis AI
- Suntory has announced that it will raise prices for 117 whiskey products, including Hibiki and Yamazaki, from April 1st, due to increasing demand for Japanese whiskey and a shortage of production.
- Since Yamazaki 12 Year Old won the International Spirits Challenge in 2003, Japanese whiskey has become increasingly popular, leading to demand exceeding supply, resulting in price increases and rarity.
- The Japanese whiskey industry is experiencing continued growth, with new distilleries emerging, and is expected to continue its growth in the future.
Hibiki 21 Year Old
Suntory has announced that it will raise prices for 117 unique products, including its flagship whiskies 'Hibiki' and 'Yamazaki'. The price increase is scheduled for April 1st and Japanese whiskey enthusiasts will be paying 100% more than they currently do from around the world.
The whiskey shortage has been going on for nearly a decade, with demand far exceeding supply as whiskey fans compete to get their hands on a bottle of Japanese whiskey.
Of course, it all started in 2003 when Yamazaki 12 year old won the first international spirits award for Japanese whiskey, triggering a whiskey boom. Millions of people began buying Japanese whiskey, and as supply dwindled, production, mainly focused on Suntory and Nikka at the time, could not keep up.
This resulted in prices going up and becoming more rare, leading to a rapid growth in the secondary market.
The situation is such that production needs to increase exponentially to meet demand, but this is not easy, given the aging time of the most popular products, such as the most popular Yamazaki 18 year old.
As the popularity of Japanese whiskey grows, more and more distilleries are being built across Japan. In fact, there were less than 10 operating in Japan just a decade ago, but today there are more than 90.
This is a sign of continued growth for the Japanese whiskey industry, and it looks like it will continue to be strong.
