Whisky Community Founds Cask Whisky Association
The Cask Whisky Association was founded by a large group of entities related to the Scotch whisky. The association comprises two boards of directors formed by distilleries, cask distributors, whisky sales businesses, associations, enthusiasts, and critics.
For years one of the most significant issues affecting the whisky industry has been cask regulations. Many consumers and customers have fallen prey to fraudulent schemes that involve cask sales and investment. In June 2022, the FBI disarmed a huge whisky cask scam involving top whisky countries.
Whisky Cask Values Have Solidified
In addition, cask investment has become a profitable business, with banks using whisky casks as security for loans. Companies like Cask88, run a daily cask trading business. However, the CWA is more concerned about unscrupulous and rogue businesses that could jeopardize the industry’s reputation.
Chairman of the advisory board and spokesman for the CWA, Colin Hampden-White, told The Spirits Business that the CWA’s goal is to uphold the overall reputation of the Scotch whisky industry while protecting consumers from “unscrupulous traders”.
“When it comes to cask investment, there are clearly companies out there that are ripping people off, and it is damaging the general reputation of Scotch.
“The main reason we have set up the CWA is to protect consumers, customers, and independent bottlers from unscrupulous traders, and also from huge price hikes; the bottlers are feeling that they’re getting priced out of the market, and prices are being pushed up by companies selling casks at a far too high price, which generally then moves everything on at a far too fast rate.
“So, we wanted to create a safe environment for people to come and trade casks, and know that they aren’t going to get ripped off.”
The new entity will have much to do in gaining ground. They will need governmental support to become a reputable institution. Plus, winning consumer confidence will require time. Nonetheless, it is an effort worth championing and the Whisky Critic welcomes the CWA.
