NEWS
JAPAN: ASAHI TO HIKE PRICES OF ITS PREMIUM WHISKIES BY UP TO 62% NEXT APRIL
By Siulan Law Mathews DipWSET
21-12-2023
Source: Asahi Group
Japanese drinks giant Asahi Group, owner of the Nikka brand of Japanese whisky, will hike prices of its spirit products by as much as 62 percent from 1 April next year.
The hike will affect 68 labels across 17 Japanese as well as imported brands, the price increases will vary from 6 to 62 percent .
The biggest price jump will apply to the highly sought-after duty-free versions of Yoichi and Miyagikyo single malts, with a 62 percent increase.
Price for Taketsuru Pure Malt, Nikka’s premium blend, will increase to ¥7,700 (USD54) from ¥4,950 including tax, representing a 56 percent increase.
A bottle of 10YO Yoichi Single Malt in the Japanese domestic market will have a price tag of ¥13,200, up 50 percent from the current price of ¥8,800.
“The current situation has been affected by rising costs of raw materials, packaging materials, energy, and logistics for transportation. In this difficult environment, Asahi Breweries has been striving to reduce costs and improve productivity throughout its business activities in order to provide a stable supply of high-quality, safe and reliable products,” a spokesperson for Asahi said.
Suntory Holdings, Asahi’s biggest competitor in Japan and owner of the Yamazaki Japanese whisky brand, announced last month that it will increase prices of its premium whisky products by as much as 125 percent in April next year.
The most affected products are Hibiki 30 YO, Yamazaki 25 YO and Hakushu 25 YO, these bottles are currently priced at a tax-exclusive ¥160,000, but will cost 125 percent more at ¥360,000 next April.
Apart from premium whiskies, Suntory will also hike prices for wines and other liquors, totalling 117 products.
Suntory said that the reason for the price increase is to raise funds to cover expenses incurred by the expanded facilities and equipment for both the Yamazaki and Hakushu distilleries, as well as for advertising and the soaring cost of ingredients.
(the writer can be contacted at: info@thewinechronicle.com)
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