Data collected over the past 24 hours by the "Liquor Price Index" shows that the average terminal retail prices of major Chinese baijiu products experienced a slight overall decline on March 24. If one bottle of each major product were bundled for sale, the total price today would be 9,913 yuan, a decrease of 18 yuan from the previous day. Market trading continued its stable trend, while terminal quotations showed divergent movements.
Today's baijiu market saw mixed movements among major products, with four out of eleven key products rising, five falling, and two remaining unchanged. Among the gainers, Kweichow Moutai's Feitian Moutai led the increase, rising by 5 yuan per bottle compared to the previous day, with channel quotes edging higher and trading volume slightly increasing. Premium Moutai rose by 3 yuan per bottle, with its price center shifting upwards to a near one-month high. Yanghe's Dream Blue M6+ and Gujinggong's Gu 20 both saw modest increases of 1 yuan per bottle. On the downside, Luzhou Laojiao's 1573 experienced the largest drop, falling by 9 yuan per bottle. Qinghualang declined by 8 yuan per bottle, while Qinghua Fen 20 and Xijiu's Junpin both decreased by 4 yuan per bottle. Wuliangye's 1618 dropped by 3 yuan per bottle. Prices for Wuliangye's Eighth-Generation Premium and Crystal Jiannanchun remained unchanged from the previous day.
The daily data for the "Liquor Price Index" is sourced from approximately 200 collection points reasonably distributed across major regions nationwide, including but not limited to distributors designated by liquor companies, independent distributors, e-commerce platforms, and retail outlets. The original sample data consists of the actual transaction-based terminal retail prices processed at each point over the past 24 hours, striving to provide objective, scientific, and fully traceable data on the market prices of renowned baijiu products for all stakeholders. Following the official iMoutai platform's commencement of sales for Feitian Moutai at 1,499 yuan per bottle on New Year's Day and Premium Moutai at 2,299 yuan per bottle on January 9, the gravitational 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 Index" adhere to a calculation rule weighted by actual transaction volume, and verifiable prices have been incorporated into the computation of the terminal retail prices for these two liquors.
In significant industry news, during the hotel exhibition segment of the 2026 Chengdu Spring Sugar & Wine Fair, on-site visits conducted from March 21 to 22 revealed that leading liquor companies such as Kweichow Moutai, Wuliangye Yibin Co.,Ltd., and Yanghe Co., Ltd. collectively abstained from the traditional hotel exhibition segment this year, discontinuing their previous practice of setting up booths for investment attraction, which has drawn industry attention. Industry insiders believe that with the channel systems of leading companies having matured, combined with considerations of cost and efficiency, the appeal of hotel exhibitions has diminished. This move signals a gradual weakening of the baijiu growth model previously driven by channel expansion and inventory pushing. Simultaneously, liquor companies are accelerating their transition towards the consumer end by strengthening brand operations and developing consumption scenarios, propelling the industry's shift from channel-driven to demand-driven growth. The Chinese baijiu industry is entering a new phase of structural adjustment and a reshaping of its development logic. This year's National Sugar & Wine Fair is the 114th session; the exhibition has a long history dating back to 1955 and is held twice annually in spring and autumn, with the spring session consistently taking place in Chengdu.
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