Post-pandemic restocking, the return of Global Travel Retail and premiumization trends all helped global exports of Scotch whisky reach £6.2bn ($7.6bn) in 2022.
Scotland is emphasising the need to protect the Scotch whisky industry following Brexit, calling for the current EU definition of whisky to be applied into UK Law.
Scotch whisky exports increased by £79m ($100m) in the first quarter of 2017, coming in as one of the top two UK export products by value, along with Scottish salmon.
Scotch Whisky Association (SWA) CEO David Frost has welcomed the 'stability' that a 'No' vote will ensure after the Scottish people voted to reject independence from the rest of the UK.
Rabobank believes the short-term impact of Scottish independence on the whisky industry would be negative – affecting access to export markets, foreign exchange, taxation rates and input costs.
A Scottish-based academic has warned BeverageDaily.com that plans by the country’s legislators to introduce minimum alcohol pricing would be a ‘massive shot in the foot’ for the nation’s top global export Scotch whisky.
Spirits group Bacardi yesterday announced a $250m (€183m)
investment into production of its Scotch whisky brands amidst
increasing global demand for the drink.
Scotch whisky producers have fought long and hard in recent years
to improve the market access for their product, mainly by seeking
an equality of treatment with local products.
The Scotch Whisky Association has begun its annual campaign for a
cut duty levels on whisky and other spirits, calling for a 4 per
cent drop this year.
