Post-Brexit, Scotland finds solace in whisky sales spike

London

SCOTLAND lost the Brexit battle, but the vote to leave the European Union has been an unexpected boon for its whisky business.

A plunge in the pound after the June 23 EU referendum, which accelerated after the Bank of England cut interest rates on Thursday, has lowered the price of Scotch by 10 per cent or more for overseas buyers. Whisky producers in Scotland, retailers in London and online merchants say they're doing a roaring trade.

"It's like Black Friday for whisky," said Dawn Davies, who is in charge of buying at retailer The Whisky Exchange, referring to the busiest US shopping day. Since the vote, "there's been a crazy spike in sales - a 30 to 40 per cent increase".

It's a welcome boost for Scotland, whose pro-EU voters were outnumbered by those in England and Wales who opted for leaving the bloc. Scotch is Britain's largest food and drinks export, bringing in more than £4 billion (S$7 billion) a year, but overseas sales fell by 2.8 per cent last year, hitting big producers like Johnnie Walker owner Diageo Plc and Chivas Regal parent Per…