Wholesale reference prices for Kweichow Moutai liquor have experienced widespread increases. On December 23, data from third-party platform "Today's Liquor Price" showed that the standard Feitian Moutai rose to 1,780 yuan per bottle, up 100 yuan from the previous day. The "15-Year" edition surged to 4,070 yuan per bottle, a sharp increase of 220 yuan, while the "30-Year" edition climbed to 10,900 yuan, up 100 yuan. The "Premium" edition reached 2,250 yuan per bottle, rising by 90 yuan.
Observers noted that on December 12, the wholesale reference prices for both loose bottles and original cases of 53-degree 500ml Feitian Moutai fell below the official guidance price of 1,499 yuan per bottle for the first time, with the "15-Year" edition priced at 3,590 yuan. Since then, as Moutai prices rebounded, wholesale reference prices have trended upward, accumulating a total increase of over 13%.
Recently, a document regarding supply and structural reforms for Moutai products circulated widely in the industry. Kweichow Moutai responded that its market strategy prioritizes demand-driven approaches and channel resilience protection. Product allocations are adjusted scientifically based on terminal sales performance, avoiding blanket decisions.
Multiple Moutai distributors confirmed that with rising year-end consumption demand, shipments of 500ml Feitian Moutai remain unchanged, while non-standard products like aged Moutai (15-Year), 1,000ml Feitian Moutai, and zodiac-themed Moutai saw supply cuts ranging between 30%–50%. The colored-glaze Zhenpin edition has completely halted shipments. "Suspensions or delays only affect certain products," they clarified.
Industry experts stated that given the current shipment pace and available information, dealer sentiment has significantly improved. Kweichow Moutai's year-end "policy mix" achieves precise market control—meeting consumer demand while alleviating operational pressures on merchants, thereby restoring market confidence.
Liquor analyst Cai Xuefei noted that maintaining normal shipments for core products like 500ml Feitian Moutai stabilizes the market during peak seasons, whereas tightening supply for non-standard products optimizes the portfolio and enhances their value. This approach also eases year-end inventory and financial pressures on distributors, balancing supply and demand.
Previously, Kweichow Moutai's management emphasized to investors that sales adjustments depend on market capacity, underscoring the importance of channel resilience and stability. The company adheres to long-term brand value preservation through steady and standardized supply-demand management, avoiding disruptive low-price practices.
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