Whisky by Time News Round Up Image – April 2023

Whisky by Time News Round Up – May 2023

19/05/2023

Whisky by Time News Round Up – May 2023

Spring is in the air and as we welcome the sunshine here in the City here’s our round up of relevant news from around the world and closer to home. Some consistent themes are emerging; global investment into Scottish Whisky continues to grow as does consumer interest in premium malts … good news for Whisky Cask investors.

And more good news with World Whisky Day coming up on the 20 May, be sure to celebrate.

As ever, if you’ve got a question about Whisky Cask Investment don’t hesitate to get in touch.

Saturday 20 May marks World Whisky Day

Be sure to celebrate World Whisky Day on Saturday 20 May.

World Whisky Day invites everyone to try a dram and celebrate the water of life. Events are taking place all over the globe. If you can’t find an event happening near you why not host your own World Whisky Day event? All you need is a bottle of whisky/whiskey to share with your friends.

To find out more visit https://www.worldwhiskyday.com

Warren Buffett’s Berkshire Hathaway bets on Diageo with $41.3 million stake

On Monday 16 May The Times reported how Warren Buffett’s Berkshire Hathaway has disclosed a $41.3 million stake into Diageo. The world’s best-selling whisky brand, Diageo currently produces over 100 individual scotch brands, including the world’s best-selling scotch Johnnie Walker. Read more in this article

https://www.thetimes.co.uk/article/warren-buffetts-berkshire-hathaway-buys-stake-in-diageo-j7278kngq

Emperador plans £125 million expansion

On 18 May, American trade publication Spirits World reported on Emperador’s international expansion plan. The Philippine producer is set to invest US$125 million into expanding its Scotch whisky and brandy production. Emperador currently operates four single malt sites – The Dalmore, Fettercairn, Jura and Tamnavilin. Emperador president Winston Co said: “As we continue our internationalisation journey and expand our market reach, we are investing in more and better capacity to ensure that we can supply the growing demand for our high-end premium brands.”

Read the article in full below.

https://www.thespiritsbusiness.com/2023/05/emperador-plans-125m-expansion/

India-UK FTA pits Indian whiskey makers against the Scottish

The Economic Times reported on the ongoing discussions over the proposed free trade agreement (FTA) between India and the UK. A tussle has ensued over ‘angel’s share’ that has pitted Indian whisky makers against Scottish brands.

The UK has a big business in India for its scotch whisky. Among the many demands in the ongoing discussions over the agreement, is a reduction in the import duty on scotch whisky, which is currently at 150%. It is also asking for a maturity age of three years for the spirit to be classified.

Read more at:
https://economictimes.indiatimes.com/industry/cons-products/liquor/india-uk-fta-pits-indian-whiskey-makers-against-the-scottish/articleshow/100273701.cms

Macallan Whisky Cask Forgotten For Years Sells For Record $1.3 Million

In late April, Forbes reported on a forgotten whisky cask that raised records funds at a recent auction.

The rare cask of Macallan whisky that was left in the Scottish distillery’s warehouse for more than three decades after its owner forgot to pick it up was snapped up by a U.S. buyer for nearly $1.3 million, breaking the previous auction record for a whisky cask. Read more

https://www.forbes.com/sites/carlieporterfield/2022/04/26/macallan-whisky-cask-forgotten-for-33-years-sells-for-record-13-million-at-auction/

US Home drinkers opt for premium products and whisky is fairing well

In the US rising Inflation drives consumers to drink at home –though 45% opt for a premium product

To avoid rising inflation costs, 26% of US consumers are spending more money on beverages to drink at home rather than going out to bars, new data has found.

However, 45% of those surveyed said they were opting for more premium or expensive products at home than they would at bars and restaurants.

The report found that ‘self-bartending’ is returning after a spike in popularity during the Covid-19 pandemic, with one in five respondents planning to hone their at-home bartending skills this year. Despite inflation, Drizly said the gifting of beer, wine and spirits was also expected to rise in 2023.

Almost 80% of those surveyed said they have given alcohol as a gift this year, with nearly three-quarters (72%) noting their gifting of alcohol would stay the same or increase in 2023. Johnnie Walker Blue Label and The Macallan Double Cask 12 Years Old followed, with Blandons Single Barrel Bourbon being the fifth most-popular spirit gifted on the platform.

Closer to Home… Two New Whisky Distilleries open in Scotland

The Week reported on two new impressive distilleries set to open this summer.

Port of Leith Distillery in Edinburgh and ili distillery on Islay. ThePort of Leith Distillery will be Scotland’s “first vertical distillery”. With a target capacity of 200,000 litres per year. iii will be the “smallest of Islay’s many whisky distilleries”, but it has “pretty big ambitions” and aims to be “highly sustainable and carbon-neutral from the outset”.

Read more: https://www.theweek.co.uk/arts-life/travel/960804/scotland-whisky-tour-best-whisky-experiences-distilleries

Scottish Whisky Association Launch Made to be Measured

Earlier in May the Scottish Whisky Association launched Made to be Measured a new campaign to raise awareness of the alcohol content of drinks and the recommended weekly guidelines (units).

Billy Walker, Managing Director of the Glen Allachie Distillery in Speyside, and chair of the SWA’s Members’ Forum, said: “This campaign is another important milestone in the Scotch Whisky industry’s continued work to ensure its products are enjoyed responsibly throughout Scotland. The whiskies we produce have been skilfully crafted over many years, and we are proud of our products and their place on the world stage. We look forward to participating in this campaign to raise awareness and understanding of alcohol units and recommended drinking guidelines among Scottish consumers.”

To read more visit

https://www.scotch-whisky.org.uk/newsroom/scotch-whisky-is-made-to-be-measured-in-new-responsible-drinking-campaign/

 

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