Chinese liquor favoured by Putin set to debut in vodka's backyard
Moutai, a high-proof fermented spirit made from sorghum and other grains, has been a diplomatic drink in China since Mao Zedong times.
A fiery Chinese liquor sampled by Boris Yeltsin and Vladimir Putin is about to make its debut in Russia, entering a country known as the homeland of vodka at a time of recession.
Moutai, produced by Guizhou-based Kweichow Moutai, will be sold in Russia at its Chinese price of about 900 yuan (HK$1,098) a bottle, a company representative said.
As a premium product, it should be able to resist the country's slowing economy, according to Vadim Drobiz, head of Russian market researcher Ciffra.
"Moutai is a premium drink for wealthy people - for such a niche product, the timing of entering the market doesn't make much difference," Drobiz said. Russia has 92,000 dollar millionaires, according to Credit Suisse's wealth report.
Kweichow Moutai is seeking to expand abroad amid Chinese President Xi Jinping's crackdown on corruption and extravagance curbed demand for luxury goods at home. Russia has a similar drinking culture to China with an emphasis on fiery drinks, Kweichow Moutai President Yuan Renguo said.
Moutai, a high-proof fermented spirit made from sorghum and other grains, has been a diplomatic drink in China since Mao Zedong times.