Dramatic fall in global Scotch whisky sales, with China's austerity drive a factor
Slow Asia, Americas markets behind whisky's biggest half-yearly fall in 15 years; Beijing's austerity drive a factor, Taiwan a bright spot
Worldwide sales of Scotch whisky have suffered one of their worst falls in recent decades, slumping by 11 per cent for the first half of the year.
Sales of blended and malt whisky fell by £220 million (HK$2.78 billion), from £2 billion to £1.77 billion, between January and June compared with the same period last year, the largest half-yearly decline in 15 years.
The figures are a worry for the SWA's recently appointed chief executive, David Frost, who said the drop proved the British government must continue to cut trade barriers and restrictions.
The association is expected to increase pressure for a 2 per cent cut in excise duty. Frost also said it would start consulting its members, dominated by global drinks giants such as Diageo, Pernod Ricard and Suntory, over the tax and regulatory reforms that could follow greater devolution for Scotland.
"The latest figures also act as a reminder that the success of Scotch whisky can't be taken for granted. We need support from government to beat down trade barriers and help us access new markets overseas," Frost said.
"That is why we are determined to play a full part in the forthcoming debate about further devolution, so that it enables a supportive business environment to ensure the future success of Scotch whisky."