Data collected over the past 24 hours shows that the average terminal retail price for major Chinese baijiu products strengthened again on July 23rd. If one bottle of each major product were packaged and sold together, the total price today would be 9,897 yuan, an increase of 14 yuan from the previous day. This marks a resumption of the upward trend after a brief one-day pullback, accumulating a gain of 92 yuan from the recent low set on July 18th, reaching the highest level in nearly 17 days and approaching the 9,900 yuan threshold once more. Across the market, terminal trading sentiment has warmed compared to the previous period, with the recovery of the total price from lower levels advancing further.
Of the 11 major baijiu products tracked today, five rose, four fell, and two were unchanged, giving the advantage to gainers. On the upside, Qinghua Lang led the gains, surging 10 yuan per bottle, marking its largest single-day increase in nearly a month. Its price has reclaimed the 700 yuan level and set a new one-month high. Gujing Gong Jiu Gu 20 rose 6 yuan per bottle, ending a previous three-day losing streak and rebounding from its lowest level since July. Yanghe Dream Blue M6+ increased by 5 yuan per bottle, successfully breaking through the 590 yuan mark. Wuliangye 1618 gained 4 yuan per bottle, continuing its recovery from a near one-month low for the fourth consecutive day, with a cumulative rebound of 11 yuan per bottle, further solidifying its position above the 820 yuan level. Jingpin Moutai edged up 1 yuan per bottle, rising for the fourth day in a row.
On the downside, Wuliangye Pu Wu Eighth Generation and Kweichow Moutai 1573 led the declines, both falling 5 yuan per bottle. The former has declined for two consecutive days, with its price exhibiting wide fluctuations near lower levels over the past half-month, and recent volatility has noticeably expanded compared to earlier periods. The latter has set a new one-month low price. Feitian Moutai and Xijiu Junpin both dipped slightly by 1 yuan per bottle. The national average retail price for Feitian Moutai has seen a minor correction from recent highs for two days running. Xijiu Junpin has declined for two consecutive days, falling back below the 630 yuan level once more. The price of Qinghua Fen 20 remained unchanged from yesterday, holding steady at 373 yuan per bottle for two days. Crystal Jiannanchun also remained flat, maintaining its price at 403 yuan per bottle for two days.
The daily data is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to designated distributors, independent distributors, e-commerce platforms, and retail outlets. The raw sample data consists of actual transaction-based terminal retail prices handled by these points over the past 24 hours, aiming to provide objective, scientific, and fully traceable data on the market prices of major baijiu products.
Since the official i-Moutai platform began selling Feitian Moutai at 1,499 yuan per bottle at the start of the year (increased to 1,539 yuan on March 31st and further to 1,639 yuan on July 18th), and Jingpin Moutai at 2,299 yuan per bottle starting January 9th (increased to 2,359 yuan on May 16th), the magnetic influence of this new channel on the average terminal retail prices of these two products has gradually become apparent. The daily baijiu price data follows a calculation rule weighted by actual transaction volume, and the verifiable prices from this channel have been incorporated into the calculations for these two products' terminal retail prices.
Key Industry Data
In significant news for the baijiu industry, the National Bureau of Statistics released data on the output of major products for the first half of the year this Tuesday. For baijiu (converted to 65% alcohol by volume, commercial quantity), June output was 280,000 kiloliters, a year-on-year decrease of 9.1%. Cumulative output from January to June was 1.679 million kiloliters, down 4.7% year-on-year. The decline in baijiu output continues the trend of recent years, with the national output from large-scale enterprises consistently falling since the 2016 peak. The 9.1% year-on-year decline for June alone was higher than the cumulative decline for the first half, indicating an acceleration in output contraction since the second quarter.
Simultaneously, previously released data on total retail sales of consumer goods from the National Bureau of Statistics showed that retail sales of tobacco and alcohol products from January to June increased by 13.2% year-on-year. The divergence between declining output and rising retail sales may be related to multiple factors, including industry-wide destocking, an upward shift in product structure, changes in channel structure, and companies proactively controlling production and digesting inventory.
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