Show Notes
How much whisky is stored in warehouses across Scotland?
"Nobody really knows," says Martin Purvis of Commercial Spirits Intelligence. He tried to find out from HMRC - the UK's revenue and customs office. But they wouldn't tell him; not even when he used freedom of information legislation to get an answer.
But he fears there's too much stock in too many barrels in too many warehouses: "I joined the trade 20 odd years ago," he says, "and in that time all I've seen is warehouse building."
It's not just a Scottish problem. Whisky or whiskey, it doesn't matter. "Everywhere is struggling," Martn says.
"For most brown spirits that are matured in barrels for a period of time, the biggest challenge right now is that there's too much maturing inventory versus current sales," he tells John Beattie in this episode of Cask to Glass.
Martin and his colleague Duncan MacFadzean analyse the whisky industry. They study HMRC records. And his conclusion?
"Malt whisky has really had a hard time of over the last couple of years. It's 40 percent off the top in terms of volume. And it's 12 percentage down over six months in year-on-year versus last year."
"There's a lot of competition and drinkers are less loyal," he continues. "The trade has really done a good job of premiumisation - certainly single malt."
"But," he adds, "it's still expensive. Ten years ago I would have been drinking the odd bottle of 18 year old single malt. These days I'd probably be given a row if I came home with a bottle of 18 year old single malt given the price point it's at."
But he remains optimistic, concluding: "Good product well positioned and well priced with a good liquid will do well."
Still he suggests, the industry needs a "reset".
Join John and Martin as they discuss the state of the industry; the challenges it faces; the role of casks; and how Martin tries to reduce the Angels' Share...
"I live down the road from a complex which has got probably 10 million barrels. The amount of evaporation that is taking place from that location is really high. If you reduce that by one percent it's a huge number. So incredible commercial value here."
Tune in as Martin tries to predict the future of whisky.
Slàinte! ------- Socials: @C2GWhisky @JohnRossBeattie
Creator & producer: David Holmes Art work & design: Jess Robertson
Music: Water of Life (Never Going Home) Vocals: Andrea Cunningham Guitars: John Beattie Bass: Alasdair Vann Drums: Alan Hamilton Bagpipes: Calum McColl Accordion: Gary Innes Music & Lyrics: Andrea Cunningham & John Beattie Recorded & mixed by Murray Collier at La Chunky Studios, Glasgow, Scotland
Special thanks: The Piper Whisky Bar, 57 Cochrane Street, Glasgow, Scotland Hosted on Acast. See acast.com/privacy for more information.
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