Japanese whisky is getting another major price hike in 2024

ASAHI Group Holdings, which produces the Nikka brand of Japanese whisky, said it’s raising the prices of its spirits portfolio as much as 62 per cent from April.

“The new price is calculated based on costs for making them,” said an Asahi spokesperson, noting that each whisky has different ingredients and therefore different cost components.

A bottle of 10-Year Yoichi Single Malt, which returned to shelves a year ago after being discontinued in 2015 due to supply issues, will retail for 50 per cent higher at 13,200 yen (S$122), up from 8,800 yen. Taketsuru Pure Malt, Nikka’s premium blend, will be marked up to 7,700 yen from 4,950 yen including tax, a 56 per cent increase.

The biggest price jump comes for duty-free versions of Yoichi and Miyagikyo single malts, with a 62 per cent increase. The non-age-statement Yoichi Grande can be found for 10,000 yen now.

Suntory Holdings, Asahi’s largest domestic competitor in the field of premium whisky, announced last month it will more than double the price for some of its most popular expressions such as the 30-year-old Hibiki and 25-year-old Yamazaki.

Asahi cited the high global demand for Japanese whisky and the rising cost of manufacturing and said the price increase is necessary to maintain quality and stable supply. BLOOMBERG