The production of Kentucky bourbon reached its highest level in almost, 50 years when distillers surpassed 1.7 million barrels, it was only surpassed in 1968, and some say it is the trade tariffs of Trump that is responsible for a headache suffered by the whiskey industry.
Give Trump a Taste of Kentucky Bourbon
Reports released only a week ago revealed that the distilleries in Kentucky is producing more whiskey as they ever have, apart from the highest ever production in 1968 and while the bourbon boom in America is great for whiskey lovers, it is Trump’s action that is not appreciated by the industry.
While India and China are boosting the whiskey business, there is also a massive increase in the thirst of younger generations therefor most marketing campaigns are directed at millennials and women who have shown an unslakable thirst for top quality whiskeys. It is also the sustained wave of from Europe that hugely boosts the popularity of American brands, and the whiskey export industry’s heart lies at the feet of the distillers in Tennessee and Kentucky.
Whiskey Production Highest Since 1972
Its whiskey production at an all-time high and the overall inventory of ageing whiskey have reached 7.5 million, which is the highest since 1972, the figures were released this week by the KDA- Kentucky Distillers Association. What remains a threat to the producers of bourbon is the trade disputes, which is also the key in the risk of the market, with expansions in distilleries the industry could deliver even higher production. Measured against production in 2017 according to KDA reports the Kentucky whiskey surpassed the spirits productions and overall in 2017 the distillers produced 1.7 million barrels which makes it the second time that production of bourbon is at such a high since 1968. According to Eric Gregory, the president of the KDA, bourbon producing could remain on this sensational skyrocketing patch should further increase to $1billion in the next couple of years.
Right before it got caught up in the disputes of the Trump administration, which resulted in imposed tariffs in overseas markets, which also included the European Union it was on a winning path. Yet with due to the tariffs focused and targeting the bourbon market, including taxes that lead to higher prices, while the profits keep shrinking, have significant consequences for the makers of the spirit.
By removing the trade war concerns the whiskey trade can slash all historical records within the next couple of years due to the ongoing increase in the thirst, internationally for Kentucky bourbon. While the industry sustained the lows of the 1990s when only 3.4 million barrels of gaining whiskey was on the inventory of Kentucky, and 455,000 barrels were produced for all spirits. The trendier spirit was Vodka at the start of 2000, and it is Kentucky whiskey that made a huge comeback, bourbon is now marketed for whiskey-infused cocktails which massively increased exports. Last year Kentucky reached 8.1 million barrels of ageing spirits which included rye brandy, bourbon and several other products and that was the most in many years.
Apologies, but no related posts were found.