Moutai, Once in High Demand, Sees Prices Plummet Suddenly

Moutai Price Drops 20 Percent After China's Alcohol Ban
Industry Experts Predict Price Will Soon Fall Below 280,000 KRW

After China imposed a "ban on alcohol consumption" for party and government organizations, the price of Moutai, a representative premium Baijiu, has been on a downward trend.

On July 7, Hong Kong's Sing Tao Daily reported that the price of Moutai has dropped by nearly 20% since the beginning of this year. For example, the price of the 53-degree Feitian Moutai fell below 2,000 yuan (about 380,000 KRW) on June 11, and further declined to 1,780 yuan (about 340,000 KRW) by June 25. According to Sing Tao Daily, industry insiders predict that the price may soon fall below 1,500 yuan (about 280,000 KRW).

Chinese-language media have cited the prolonged domestic consumption slump as a factor influencing the decline in Moutai prices. They specifically pointed out that the recently announced "ban on alcohol consumption" by the authorities has had a significant impact.

On May 18, the Central Committee of the Communist Party of China and the State Council issued the "Regulations on Implementing Frugality and Opposing Waste in Party and Government Organizations." The main point is that tobacco and alcohol must not be provided at official meals for party and government officials. The ban was introduced after a series of incidents in which officials in Hubei Province in central China and Anhui Province in eastern China died after consuming alcohol.

After the central government announced the alcohol ban, local governments across the country introduced additional, stricter measures of their own. In some regions, there has been a trend of intensifying regulations, such as requiring public officials to avoid dining in groups of three or more, under the pretext of preventing factionalism.

This has led to criticism that such measures excessively restrict individuals' private lives. In response, last month, the party and government disciplinary inspection authorities issued additional regulations clarifying that only "illegal dining and drinking" is prohibited, not all forms of dining and drinking.

Meanwhile, state-run media have been emphasizing the need to reinforce discipline among public officials. On this day, the People's Daily, the official newspaper of the Communist Party of China, published a commentary warning that "corruption does not arise out of nowhere, and one of its signs is an unhealthy work style," adding, "If the desire to 'eat'?such as receiving meals from superiors?does not stop, it will inevitably lead to 'receiving' and 'demanding' other forms of benefits."