Suntory Raises Japanese Whisky Prices Ahead of Christmas
Asian whisky distillery, Suntory Holdings, has augmented the prices for Japanese liquors and beverages. The company has increased the price tag on over 19 spirits ahead of the Christmas season.
Despite decades of virtually no inflation, Japan has seen rapid consumer price increases over the past two years, but regular cost-of-living wage increases haven’t become commonplace yet. This just got worse
There is a massive price increase in the beverage sector. A drink is in order, but it’s going to get a lot more expensive if your drink of choice is Suntory whisky. Suntory has announced that 19 of its whiskies, divided among five sub-brands, will be raised in price. There are no price increases smaller than 20 percent currently announced, and in some cases, prices are more than doubled.
Surprising Whisky Price Hike by Suntory Distillery
According to the company, these increases are due to the long production process for whisky and that increasing supply to meet demand is not an easy task. This points to the increasing popularity of Japanese whisky both abroad and within Japan.
Consequently, Suntory says it will improve both the quantity and quality of whisky produced at its Yamazaki and Hakushu distilleries in an environmentally friendly manner. There is no mention of the reduced value of the yen affecting the price of imported ingredients used in whisky-making, although it is almost certainly a factor.
Nonetheless, none of these excuses adds up as the basic reason for a whopping 20% increase. To make matters worse, these beverages are already expensive at their standard prices. Suntory does produce some of the best whiskies in the world, but such a steep price increase may result in market loss.
The sluggish global economy and a weakening Japanese yen are stifling the income potential of the working community. A hefty price increase is not the appropriate gift at this point.
Finally, there may be just some good news about all this. The increases won’t go into effect until April 1, 2024. This gives us plenty of room to enjoy the good stuff while it lasts.
