The age-labeled single malt Scotch whisky is running low in supply -- resulting in a price boost of the older vintages. Likewise, it is forcing distilleries to scramble to meet the consumers' demand. More importantly, single malt Scotch whisky lovers will soon be hoarding their stashes.
"The shortage of old and rare single malt ... has already started," Rickesh Kishnani, who launched the world's first whisky investment fund, told CNN Money. "And it's going to get worse." The major reason for the Scotch whisky shortage is the world's huge interest in the said drink, especially in Asia, which one-fifth of the exported whisky goes to Asian countries. But despite the high demand for the Scotch whisky, distilleries can just produce a set amount in a given year because of the necessary aging process.
Scotch lovers are bracing themselves for a single-malt whiskey drought - https://t.co/EBJgJvYN1J pic.twitter.com/bwyEmx2mfR
— First We Feast (@firstwefeast) March 5, 2016
Hence, the shortage of the whisky is expected to last 10 to 15 years. While Scotch whisky distilleries are facing the production challenges, other manufacturers, on the other hand, such as Oban, Macallan and Highland Park are ramping up their production to meet consumers' demand.
So, people won't be facing the scarcity of whisky anytime soon. However, Scotch whisky lovers can expect that the prices will be going up to the roof, especially for the rare ones like the bottles of 30-year Black Bowmore from 1964, each bottle is currently available for around $10,000, as per Huffington Post.
We love Whiskey, yes we do! We love Whiskey, how bout you?!?! #singlemalt #whiskey #hollywood #cheers pic.twitter.com/oqj1qvQ8yH — Lost Property Bar (@LostPropertyBar) March 5, 2016
"We are currently working at full capacity -- seven days a week, 24 hours a day," a brand manager for Macallan, Charlie Whitfield said. "We just need to be patient and allow those casks to work their magic."
According to Scotch Whisky Association, global single malt exports had a 159% jumped between 2004 and 2014. And Asia accounts for about 20% of all Scotch whisky exports. In 2014, Hong Kong also bought the world's most expensive Scotch. It is a large crystal decanter holding Macallan "M" whisky and it was sold for a whopping $628,205 during an auction.
