NEWS
SUNTORY TO HIKE PRICES OF ITS PREMIUM WHISKIES BY UP TO 125% NEXT APRIL
By Susan Lewis
27-11-2023
Source: Suntory
Bad news for Japanese whiskies lovers. Suntory Holdings has announced that it will raise prices of its premium whiskies for as high as 125 percent starting from 1 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 (USD1,080) for a 700-milliliter bottle, but will cost 125 percent more at ¥360,000 next April.
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.
Apart from premium whiskies, the company will also hike prices for wines and other liquors, totalling 117 products.
The price for Yamazaki and Hakushu whiskies with no age statement will jump by 56 percent from ¥4,500 to ¥7,000.
Meanwhile, the price for Whisky White will increase 20 percent from ¥1,174 to ¥1,410, and Suntory-owned Scotch brand Bowmore 12 YO will see a 30 percent increase from ¥5,060 to ¥6,600.
Suntory last hiked prices on its whisky brands in April 2022, the level was a much milder 28 percent.
(the writer can be contacted at: info@thewinechronicle.com)
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