Scotch lovers are a bit alarmed as it was reported that there will be a shortage of their favorite drink anytime soon. News broke out that high demands of old single Scotch whiskey is causing scarcity.
Most Asian countries especially China are increasing their demands for Scotch causing the prices to skyrocket, according to CNN Money. The Scotch drought and high demands are motivating investors to cash in wherein distilleries are forced to double their supply, causing them to struggle in keeping up with the demands as their supplies are starting to slow down.
"The shortage of old and rare single malt," according to Rickesh Kishani, the one who launched the world's first whisky fund. "has already started, and it's going to get worse."
One of the biggest problems being tackled by the distillers is the fact that age labelled Scotch is usually a "limited commodity." Producers would usually release limited number of age labelled single malt Scotch making the Scotch shortage even worse.
Though most distilleries went out of business a few years back, the demand for whiskey made its way back into the market. Despite the fact that it's starting to boom, experts stated that the Scotch shortage could last for another 10 to 15 years.
"We're very thoughtful and serious in projecting our supply needs," as per New York Daily News, senior vice president and managing director John Hayes said. "I feel comfortable with where we are right now."
The whiskey shortage paved ways for other alcoholic products to make its way into the market. As the Scotch producers are struggling to keep up with the rum and beer brewers are keeping their hopes up that Scotch lovers would shift to other alcoholic beverages.
"People will buy my whiskey, of course, but when there's a shortage of whiskey, they'll be turning to rum," Phil Prichard, a Tennessee distiller who also makes rum stated. "The demand for whiskey is huge right now, and for those of us in the rum business, we think that's absolutely marvelous."
