Single Malt Scotch Whisky - and my pissing in the wind gripes about the cost
The costs of Single Malt Scotch Whisky is the latest in a long line of 'bubbles' of which in particular the real estate market was one and where an incredible number of people went bellies up with their money.
To quote just the figures in production from the U.K - and single malt whisky is being produced in quantities unbelieveable just a few short years ago in countries around the world such as Canada, the U.S, Japan in particular, France and etc., none of which are included in the figures that I am about to quote for the year 2014 from the website:
- Exports generated £3.95 billion for the UK balance of trade.
- Exports earned £125 every second.
- 38 bottles were shipped overseas each second.
- 99 million cases (12 70cl bottles at 40% vol) were exported worldwide.
- Laid end to end they would stretch about 30,000kms - or about six times the distance between Edinburgh and New York.
- More than 10,000 are directly employed in the Scotch Whisky industry - many in economically deprived areas.
- Over 40,000 jobs across the UK are supported by the industry.
- About £1 billion contributed to the Exchequer in taxes.
- Some 20 million casks lie maturing in warehouses in Scotland.
- To be Scotch Whisky, the spirit must mature in oak casks in Scotland for at least 3 years.
- 115 distilleries are licensed to produce Scotch Whisky.
now just looking at the bottles exported we see that it is roughly 1 billion 200 million (1,200,000,000) bottles of Scotch pouring into the market WHILE MEANWHILE the price is sky-rocketing. One of my favorite expressions, the Lagavulin 16 year old, went from about $56 U.S for 750ml to almost $97 in one month. I personally know that whenever I go into a liquor store there are always people buying wine and beer but I have yet in my last ten years to ever encountered anyone besides myself purchasing Scotch. I know that they do by the way shelves empty from time to time but as a rough rule of thumb Scotch enthusiasts are a fairly small crowd - but still enthusiastic enough to pay a high premium compared to the other spirits available - so are there really people snapping up over a billion bottles a year. I am sure however that I am not the only one starting to shop around for a better price, for a less popular brand, for a blended malt, for anything that will fit the pocket-book and still give that taste that once acquired is like a necessary part of the evening ritual. And I personally am starting to buy several bottles at a time when I find an old friend at a reasonable cost. But in general I am pissed off at what is happening and only half-jokingly am wondering if these late years increased outputs are being hoarded by the big whisky distributors.
I'll sign off on the note that I know it's probably just me thinking that the single malt seems to be pricing itself out of the market.
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