Data collected over the past 24 hours by Sina Finance's "Liquor Price Report" indicates that the average terminal retail price for ten major single-product Chinese baijiu brands experienced a slight rebound on January 24. If one bottle of each of the ten major products were packaged and sold together, the total price today would be 8,873 yuan, an increase of 10 yuan from yesterday. Following consecutive adjustments, market prices showed signs of temporary recovery; however, the overall market is still characterized by structural fluctuations, with the industry's short-term trend remaining cautious.
The baijiu market exhibited a structurally divergent trend today. Among the ten major products, five saw price increases, four decreased, and one remained flat, resulting in a relatively stable overall average price. Among the gainers, Qinghualang led the rise with an increase of 10 yuan per bottle compared to the previous day. Xijiu Junpin followed closely, rising by 8 yuan per bottle. The price of Jingpin Moutai increased by 7 yuan per bottle, showing relatively stable terminal circulation performance. Qinghua Fen 20 and Gujing Gongjiu Gu 20 saw modest gains of 2 yuan and 1 yuan per bottle, respectively. Among the decliners, Wuliangye普五八代 experienced the largest drop, falling by 9 yuan per bottle. The price of Gujiao 1573 retreated by 6 yuan per bottle. Feitian Moutai saw a slight decrease of 2 yuan per bottle, primarily pressured by the continuous supply of平价 goods on the iMoutai platform, impacting terminal quotes. Shuijing Jiannanchun dipped slightly by 1 yuan per bottle. The average terminal retail price for Yanghe Dream Blue M6+ remained unchanged from yesterday at 578 yuan.
The daily data for the "Liquor Price Report" is sourced from approximately 200 collection points reasonably distributed across major regions nationwide. These points include, but are not limited to, designated distributors of liquor companies, independent distributors, e-commerce platforms, and retail outlets. The raw sample data consists of the actual transacted terminal retail prices handled by each point over the past 24 hours, striving to provide the public with objective, authentic, scientific, and fully traceable data on the market prices of well-known baijiu. Since the official iMoutai platform began selling Feitian Moutai at 1,499 yuan per bottle after New Year's Day and Jingpin Moutai at 2,299 yuan per bottle on January 9, the magnetic influence of this new channel on the average terminal retail prices of these two products has gradually become apparent. The daily liquor prices released by the "Liquor Price Report" adhere to a calculation rule weighted by actual transaction volume, and we have gradually incorporated quantifiable prices into the calculation of the terminal retail prices for Feitian Moutai and Jingpin Moutai.
In significant industry news, on January 22, the National Bureau of Statistics released official baijiu production data. In December 2025, the output of baijiu (converted to 65 degrees, commercial volume) was 376,000 kiloliters, a year-on-year decrease of 19.0%. For the full year of 2025, the cumulative output for this category of baijiu was 3.549 million kiloliters, down 12.1% compared to the previous year's cumulative total. Looking at the industry's production trend, this marks the seventh consecutive year of declining baijiu output since 2019, with the decline in the past December being particularly pronounced. The adjustment trend on the production side of the industry continues. The ongoing contraction in output is related to the industry's push for capacity optimization and a focus on high-quality product portfolios.
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