Whiskey Prices Rise One After Another Since Early Year... Scotch Blue, Windsor, etc. Up

Whiskey prices have been rising one after another since the beginning of the year. Whiskey importers say that due to increased demand for whiskey, the cost of raw materials has gone up, and combined with rising costs of packaging, labor, and logistics, price hikes have become inevitable.

According to the industry on the 14th, Lotte Chilsung Beverage will raise the prices of the domestically distributed whiskey "Scotch Blue" by an average of 11.9% starting from the 16th.

The items subject to the increase are three products: ‘Scotch Blue Special 17 Years’ 350ml and 450ml, and ‘Scotch Blue 21 Years’ 500ml. This price increase is the first in about 10 years since February 2013. Following the price adjustment, the ex-factory prices will rise to 31,900 KRW and 40,040 KRW for Scotch Blue Special 17 Years 350ml and 450ml respectively, and 91,080 KRW for Scotch Blue 21 Years 500ml.

Lotte Chilsung Beverage stated, “We have made efforts to reduce costs, but it has become difficult to absorb the sharp increase in raw material prices caused by the global surge in whiskey demand,” and added, “We ask for your understanding and consideration regarding this unavoidable price increase.”

Alcohol importer D&P Spirits will also raise prices of imported and distributed products starting next month. Notably, the supply prices of 10 types of Scotch single malt whiskey ‘Macallan’ will increase by 5.2 to 13.5%. Additionally, ‘Glenrothes’ will increase by 10 to 40%, and ‘Highland Park’ by 10 to 50%.

Earlier, Windsor Global raised the ex-factory prices of some ‘Windsor’ and W series products starting from the 3rd. ‘Windsor 21 Years (500mL)’ increased from 77,780 KRW to 90,200 KRW, a 15.9% rise; ‘W 19 (450mL)’ from 38,335 KRW to 44,000 KRW, a 14.7% increase; and ‘Windsor 12 Years (500mL)’ from 24,288 KRW to 26,620 KRW, a 9.6% hike.

Windsor Global explained, “We can no longer bear the sustained sharp rise in major raw material and labor costs as well as international logistics expenses over the past several months,” and added, “Due to ongoing global supply instability of aged products over 19 years, we have inevitably adjusted supply prices.”

Diageo Korea already raised ex-factory prices of 53 products including whiskey and beer by up to 40% starting from the 1st of last month. Diageo Korea also increased prices of brands like ‘Johnnie Walker’ and ‘J&B’ by an average of 5 to 10% in April last year. Pernod Ricard Korea also raised ex-factory prices of whiskey, champagne, and vodka starting last month. ‘Ballantine’s’ increased by 5.5 to 14.3%, ‘Royal Salute’ by 5.8 to 17.8%, and ‘Chivas Regal’ by up to 9.6%.