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Irish Whiskey News – Feb 27 – 2020

This week our Irish Whiskey News features articles on Irish whiskey sales in India rising and what effects the Coronavirus is having on the whiskey industry.

So let’s see what’s happening this week in our Irish whiskey news.

Irish Whiskey News - Feb 27 - 2020 - WIrish Whiskey In India

Indians develop a taste for Irish whiskey

Irish whiskey has emerged as the fastest-growing spirit in India, albeit from a very low base. The sales of these whiskies, dominated in India almost wholly by Pernod Ricard’s Jameson, is expected to rise to 50,000 cases (of 9 litres each) this year from just 5,000 in 2014, data from research firm IWSR show. That is a staggering CAGR (compound annual growth rate) of 60%, compared to 12% for scotch and 4% for traditional whiskies. “The Irish Whiskey category has been growing steadily over the past few years in India like the rest of the world. It reflects the evolving palette amongst the younger drinking audience and their global exposure. People today want to experiment with what they are consuming and try newer brands and products,” said Sachin Mehta, country director of premium spirits company William Grant & Sons .

Irish whiskey is still less than 1% of the Indian whiskey volumes. And only 34,000 cases, out of the 10.6 million globally, were imported to India in 2018, the Irish Whiskey Association (IWA) told TOI. “If Irish whiskey were to achieve even a minuscule percentage of (India’s) market share, this would translate into a significant volume of sales. It is for this reason that Irish whiskey producers are looking to markets such as India as new growth engines,” William Lavelle, head of the association, said. Jameson is a near monopoly in the Indian market currently, dwarfing other imported brands such as Bushmills, previously owned by Diageo. William Grant, popular for its single malt Glenfiddich, counts Irish whiskey Tullamore DEW among its core brands globally.

Irish Whiskey News - Feb 27 - 2020 - Whiskey CoronaVirus

Spirits Industry Expects to lose $200 million due to Coronavirus

The coronavirus, officially known as COVID-19, has thrown world health and financial markets into upheaval. Despite reports that the outbreak’s spread was slowing, a surge of cases reported in South Korea (1,261 so far with at least 10 deaths) and Italy (322 also with at least 10 deaths) have called that conclusion into question. Over 80,000 people have now been diagnosed with the virus worldwide and more than 2700 have died, with both of those numbers likely to rise. Stock markets plunged amid the news, and many industries are taking heavy financial losses. Now it appears the whisky and spirits industry will be among them, with more than $200 million in projected losses this year due to the virus.

Diageo, the world’s largest drinks company, told the Financial Times that it expects to see sales losses from between $291 million to $420 million. The company also projects $181 million to $258 million in operating profit losses. All told, the maker of Johnnie Walker, Buchanan’s and J&B will lose 2.5 percent of its 2019 net sales. The reasons for the dire projections are complex. According to distributors, bottle and cask sales have slowed considerably in China, a dramatic turnaround from pre-coronavirus numbers, when sales of whisky were booming. Neighboring Japan has been not been hit quite as hard by the disease compared to other nearby nations (159 confirmed cases), however, its whisky market is suffering as local distilleries make the choice to temporarily cease tours. This includes some of Japan’s most revered makers like Suntory and Nikka, with all tours canceled through at least mid-March and no new start date yet set.

 

Thanks again for reading our Irish Whiskey News.

.

Andrew

The Whiskey Experts

 


The Whiskey Experts  – Irish Whiskey News © 2019

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Irish Whiskey News – Feb 20 – 2020

This week our Irish Whiskey News features articles on Lough Neagh Distillers entering the US market and a new whiskey cask design aims to reduce whiskey evaporation losses.

So let’s see what’s happening this week in our Irish whiskey news.

Irish Whiskey News - Feb 20 - 2020 - Lough Neagh Distillers

Lough Neagh Distillers to ‘ramp up growth plans’ after US listing

Launched 15 months ago by Irish entrepreneur Vernon Fox, Lough Neagh Distillers will now sell its 18-year-old Coney Island, six-year-old O’Neill’s Tower and three-year-old Ferryman’s Irish whiskeys across 100 retailers in Pennsylvania. The deal, agreed with the Pennsylvania Liquor Control Board, will see the distiller’s first products launch in the US from May 2020. Lough Neagh Distillers is targeting exports of 20,000 cases by 2023.

The brand’s US breakthrough was made during a recent trade mission organised by Armagh City, Banbridge and Craigavon (ABC) Borough Council. The three-day trade mission saw 10 companies from the region travel to the US to seek out export contacts, build relationships and secure new deals. Fox said: “This transformational US deal realises our ambitions and means immediate expansion and renewed investment to scale up our operations at home.

Irish Whiskey News - Feb 20 - 2020 - Scotch BonnetHas a cask maker answered whisky distillers’ ‘angels’ share’ prayers?

A spirit cask maker thinks it has cracked the secret to minimising an expensive side effect of whisky maturation. The Scotch Bonnet cask is designed and manufactured to reduce the amount of spirit which evaporates from casks during their years of maturation – commonly referred to as the ‘angels’ share’. Ross Morrison, director of Scotch Bonnet and whisky industry veteran, spoke with various distillers about the bane of the ‘angels’ share’ and its direct impact on their profitability. He collaborated with friend Ken Hooker, owner of packaging firm Proteus, to create the Scotch Bonnet cask.

Made from sustainably sourced, natural fibreboard, the cask does not eliminate evaporation from the barrel but has been shown to significantly decrease it without affecting the taste of the spirit. After 42 months of testing with a distillery in Scotland, which came to an end in 2019, the team behind Scotch Bonnet has hailed it a success. They claim as much as 5.5kg of malt spirit was saved from evaporation over the period, which was subsequently used in blending. The Scotch Bonnet is now patented worldwide and is being used by spirit distillers in Scotland, North America, Taiwan and the Caribbean.

 

Thanks again for reading our Irish Whiskey News.

.

Andrew

The Whiskey Experts

 


The Whiskey Experts  – Irish Whiskey News © 2019

For more information, visit our website or email us at info@thewhiskeyexperts.ie

Irish Whiskey News – Feb 13 – 2020

This week our Irish Whiskey News features articles on Teeling Whiskey picking up 6 World Whiskey Awards and Jameson passed the 8 million case mark in 2019.

So let’s see what’s happening this week in our Irish whiskey news.

Irish Whiskey News - Feb 13 - 2020 - Teeling Whiskey

Teeling Whiskey nabs six early honors from World Whiskeys Awards

Teeling Whiskey has picked up six honors, including best Irish Single Malt and Best Irish Single Cask Single Malt, after the first round of judging for the 2020 World Whiskeys Awards. Teeling Whiskey said its 30-Year-Old Single Malt and 13-Year-Old Calvados Cask Single Malt will now be in the running for the title of 2020 World’s Best Single Malt, which Teeling was awarded in 2019. The winner will be announced on March 26 at the Whiskey Magazine Awards dinner in London.

The distillery said: “The Teeling 30-Year-Old release, which is limited to just 500 bottles, is amongst the oldest bottlings of Irish Single Malt released in recent years, making it one of the most exclusive Irish whiskeys in the world. Distilled in 1988 this whiskey was initially matured in ex-Bourbon casks for 25 years, before being given an additional 5 years maturation in ex-White Burgundy French oak casks. “The 30-Year-Old success is accompanied by World’s Best Honour for a Teeling Whiskey Single Cask Calvados Finished Single Malt bottling as well as honors for 4 other Teeling Whiskeys in various different categories highlighting the range and diversity of the world-class Irish whiskeys within the Teeling Whiskey portfolio.”

Irish Whiskey News - Feb 13 - 2020 - Jameson Whiskey 

Jameson whiskey sales passed record 8 million cases in 2019

Irish Distillers, which makes Jameson Whiskey, said it sold 4.6 million cases of the whiskey in the six months to the end of December, an increase of 9% on the same time the previous year. Irish Distillers also recorded the single largest sales month in history, selling a total of 940,000 cases in December 2019. During the six month period, Germany saw growth of 34%, while Russia reported 14% growth, with impressive growth also seen in Canada (up 13%), South Africa (up 12%) and the UK (up 10%).

The company said that key emerging markets for Jameson experienced 37% growth, buoyed by markets like Nigeria, which saw a jump in sales of 185%. Sales in China also soared by 76% and in India by 47%. Irish Distillers noted that global travel retail also continued to grow, partly due to the successful launch of Jameson Triple Triple in July 2019.

The company also saw strong growth across the rest of its whiskey portfolios in the first half of the year, with Redbreast sales up 24%, on the back of growth in the US, the UK and France. Conor McQuaid, chairman and CEO of Irish Distillers, said that the company sold one million cases of Jameson for the first time in 1996. “In 2010, we cracked three million and today we are celebrating the eight million case mark (for 2019),” he added.

 

Thanks again for reading our Irish Whiskey News.

.

Andrew

The Whiskey Experts

 


The Whiskey Experts  – Irish Whiskey News © 2019

For more information, visit our website or email us at info@thewhiskeyexperts.ie