Moutai output set to climb 15%
Source: Bloomberg News |
July 21, 2011, Thursday
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Print Edition
Print Edition
CHINA Kweichow Moutai Distillery Co, the parent of the world's second-largest listed distiller by market value, forecast a 15 percent increase in output this year as the country's rising incomes boost alcohol demand.
"Even though we've raised prices quite a few times these past years, the demand is still strong," Chairman Ji Keliang said in Beijing on Tuesday. "Our distributors keep requesting that we increase production."
Production of Moutai will reach 30,000 tons this year after the distiller raised prices an average of 20 percent at the start of this year because of demand and the higher costs of raw materials, Ji said.
Profit for the maker of the 106-proof, sorghum-based spirit will exceed 8 billion yuan (US$1.2 billion) this year, Ji said, without elaborating. China Kweichow Moutai and Wuliangye Yibin Co are competing against overseas rivals, including Diageo Plc, in a liquor market estimated to grow about 5 percent to 4.4 billion liters in 2011, according to London-based researcher Euromonitor International.
China Kweichow Moutai is on course to meet a previously announced target of 40,000 tons in annual production by 2015, Ji said. It typically takes three years for the company's products to be sold in the market after they are made at its factory in Renhuai City in southwest China's Guizhou Province.
"Even though we've raised prices quite a few times these past years, the demand is still strong," Chairman Ji Keliang said in Beijing on Tuesday. "Our distributors keep requesting that we increase production."
Production of Moutai will reach 30,000 tons this year after the distiller raised prices an average of 20 percent at the start of this year because of demand and the higher costs of raw materials, Ji said.
Profit for the maker of the 106-proof, sorghum-based spirit will exceed 8 billion yuan (US$1.2 billion) this year, Ji said, without elaborating. China Kweichow Moutai and Wuliangye Yibin Co are competing against overseas rivals, including Diageo Plc, in a liquor market estimated to grow about 5 percent to 4.4 billion liters in 2011, according to London-based researcher Euromonitor International.
China Kweichow Moutai is on course to meet a previously announced target of 40,000 tons in annual production by 2015, Ji said. It typically takes three years for the company's products to be sold in the market after they are made at its factory in Renhuai City in southwest China's Guizhou Province.
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