Japanese Whiskey Prices to Rise Up to 125% Next Year...

Suntory Raises Premium Whiskey Prices
Increases of 20-125% Starting April Next Year
'Hibiki 30 Years' from 1.4 Million to 3.15 Million Won

The price of Japanese whiskey, which is experiencing a shortage due to the popularity of 'highball' and mass purchases by foreigners, will significantly increase by at least 20% and up to 125% starting from April next year.

According to the Asahi Shimbun on the 22nd, Japanese beverage company Suntory announced the day before that it will raise the retail prices of 19 types of domestic premium whiskey by 20 to 125% starting April 1 next year.

Japanese whiskey 'Hibiki'
Photo by Suntory website capture

Accordingly, a 700ml bottle of 'Hibiki 30 Years,' 'Yamazaki 25 Years,' and 'Hakushu 25 Years' will increase by 125%, from the current 160,000 yen (1.4 million KRW) to 360,000 yen (3.15 million KRW). Also, the price of a 700ml bottle of 'Yamazaki 12 Years' and 'Hakushu 12 Years' will rise 50%, from 10,000 yen (87,000 KRW) to 15,000 yen (130,000 KRW). The non-age-statement 'Yamazaki' and 'Hakushu' are expected to increase by 56%, from 4,500 yen (about 39,000 KRW) to 7,000 yen (about 61,000 KRW).

Suntory had also raised the price of premium whiskey once in April 2022. The company explained that the price increase is to cover costs such as expanding storage facilities and strengthening production equipment, as well as to enhance promotional activities.

Earlier, on the 13th, there were local reports that Japanese whiskey prices had surged. At that time, the Nihon Keizai Shimbun reported that the average price at stores specializing in whiskey and brandy had risen about 20% compared to five years ago. In particular, the two major brands of Japanese whiskey, 'Suntory Hibiki' and 'Yamazaki,' had surged by 40% and 25%, respectively, over the past five years.

The reason Japanese whiskey prices are rising is that supply cannot keep up with demand. Whiskey requires an aging period, making it difficult to increase supply all at once. However, Japanese whiskey has recently seen a surge in demand not only domestically due to the popularity of highballs but also in exports, which have increased 22 times over the past ten years.

Along with the highball trend, South Korea is also considered a major consumer of Japanese whiskey. According to data from the Korea Trade-Investment Promotion Agency, the cumulative import value of Japanese whiskey in South Korea from January to July was $5.26 million, a 135% increase compared to the same period last year ($2.24 million).

This content was produced with the assistance of AI translation services.