21 November, 2023

Japan: Suntory Spirits to raise prices of 117 of its alcoholic beverages by up to more than two times

Suntory Spirits Ltd. said on November 21 that it will raise the prices of 117 alcoholic beverages by up to more than two times, starting with shipments on April 1 next year, Jiji Press reported.

The suggested retail prices of the Yamazaki 25 Years Old, Hakushu 25 Years Old and Hibiki 30 Years Old whiskies will jump to 360,000 yen per 700-milliliter bottle from 160,000 yen, the Japanese beverage maker said.

Such high-grade Japanese whiskies are becoming increasingly popular worldwide and sometimes sold for 10 times the manufacturers' suggested retail prices due to stock shortages.

Suntory said that the price increases are designed to help improve the quality of its products and enhance production facilities.

For imported whiskies, the price of the Macallan 30 Years Old will climb to 550,000 yen per 700-milliliter bottle from 351,360 yen. Suntory will also raise prices for some Japanese wine. The increases reflect soaring ingredient and transportation costs, the company said.

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