The world is running low on old single malt Scotch

Yikes - driving old Ferrari, drinking old Scotch - both being driven to insane prices by speculators and profiteers. I guess that's capitalism for you.

Interesting article.

T

 

The shortage caused by world demand, especially in China and Central/South America, began affecting the availability of age-statement bottles 2-3 years ago. Most distillers (now owned by transnational holding companies) have transitioned to NAS (no age statement) bottles to maximize the ways they can blend for taste instead of selecting by age range. Sadly, bottles I have at home I bought at $120 or so are now $400-500 with the lack of supply and increase in demand.

Fortunately, Japanese whiskies, and even Amrut, an Indian whisky, have risen in quality to match that of Scotch brands. Amrut has an advantage in that whisky ages more quickly in hotter climates, so they can get a barrel at 5 years to taste like a 10-year old barrel from Scotland. Yamazaki, Nikka and Hibiki all have some very good to great whiskies. A Hibiki 12 at about $70 USD is a good choice; Yamazaki 18 is comparable to any Scottish dram, although the price for it is skyrocketing like other premium brands.

One of the core issues with great whisky is similar to that for collector cars; there are people buying it in crates and holding it for appreciation rather than consuming it as God intended...that depletes supply, drives up prices, and then encourages even more investors to buy instead of purists who used to have this little corner of the world to themselves. I've begun to buy two bottles at a time when I find something of quality, and then hold one while drinking the other. That, at least extends the time I have that brand as a choice. I do remain committed to drinking the last drop right before I fall over & they lay me doon in the caul, caul groon...

 

Like many old and "missing" Ferraris, IMO they are simply hiding!!!

 

Asia demand is simply making the prices for old whisky explode, exactly what it did to the first growth of Bordeaux and Bourgogne twenty years ago. These used to be nice great wines that were expensive, yes, but a present that you could still make to yourself, or to friends, from time to time. But today...a crate of La Romanée-Conti? Don't even think about it!

Rgds

 

I used to drink 18 years Macallan for 75 bucks and then they go over 200 and I stopped. i just cannot see buying a bottle for more than 100 bucks for any whisky.

 

Here in BC most liquor is distributed by government owned liquor stores. Back 10 to 15 years ago, some more expensive wines, you needed to order it. Now they stock most of the top expensive wines. I think its no coincidence the stores that carry stock of wine like Château Lafite Rothschild, $1,200 to $3,000+ per bottle is in Richmond 60% Asian in population and Vancouver's Chinatown area.

 

There are a few "garage finds" here and there. The problem we have is that, unlike classic Ferrari, most of the older whiskies were made for swilling, mixing and general consumption, and not for "collecting". The premier brands were made in small batches, and mostly consumed shortly after purchase. That's why many of these small houses went out of business 30-40 years ago; some have re-opened, though, now that the amount they produce makes it worth the small-batch stills on their properties.

Blended Scotch is still the most popular, and some general circulation brands are still going strong. Bell's, Label 5, Dewar's, The Famous Grouse, Grant's, Ballantine's, and Johnnie Walker are persistent top sellers worldwide.

The price of single malt premium brands (or the boutique blendeds) rises 5-10% percent a year, which is starting to put some of the best ones off limits to rational people...

 

One problem small to medium business have in retail. Its maintaining shelf space. Although not alcohol, its the same thing. Notice how Pepsi and Coke maintain their own stock in stores with their own employees. If they didn't they'd loose shelf space. Its very competitive. Booze sales is even more competitive. Most small to medium sized companies don't have the resources to stay on shelves.