Price of Moutai Liquor Slides Below Critical Threshold
Listen to the full version
The price of Kweichow Moutai Co. Ltd.’s (600519.SH) signature liquor has continued its decline, falling below the critical 2,000-yuan ($279) mark amid a seasonal lull in demand, e-commerce discounts and a government crackdown on lavish spending.
The average wholesale price of a 500-milliliter bottle of Feitian Moutai dropped to 1,780 yuan on Wednesday, marking a further decline since it slipped below the 2,000-yuan threshold on June 11, according to liquor pricing platform Jinri Jiujia. Feitian Moutai’s wholesale price reportedly peaked at 3,170 yuan per bottle in August 2021.
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
- DIGEST HUB
Digest Hub
Back
- The wholesale price of Feitian Moutai fell to 1,780 yuan, dropping below 2,000 yuan on June 11, compared to its 2021 peak of 3,170 yuan.
- Factors include seasonal demand, e-commerce discounts such as the “618” festival, and a government crackdown on official luxury spending.
- Kweichow Moutai’s shares have declined 13% since mid-May, closing at 1,420 yuan.
- Kweichow Moutai Co. Ltd.
- Kweichow Moutai Co. Ltd. (600519.SH) is a state-owned Chinese company known for producing "baijiu," a traditional sorghum-based spirit. Its flagship product, Feitian Moutai, is considered a barometer of China's luxury consumption. The wholesale price of Feitian Moutai has recently dropped below 2,000 yuan due to seasonal lulls, e-commerce discounts, and a government crackdown on lavish spending.
- Meituan
- Meituan, a major player in food delivery, recently entered the "618" shopping festival. They offered limited-time deals on Feitian Moutai, selling it for 1,499 yuan. This strategy proved highly successful, with their baijiu sales increasing 70-fold year-on-year within 24 hours of the promotion's launch. Meituan's expanded promotional campaigns are part of a broader effort by e-commerce platforms to counter weak consumer spending.
- August 2021：
- Feitian Moutai’s wholesale price peaked at 3,170 yuan per bottle.
- Earlier in May 2025：
- China’s top leadership implemented new rules aimed at curbing lavish spending among Communist Party and government officials. The rules ban luxury dishes, tobacco and alcohol from official functions.
- May 19, 2025：
- Kweichow Moutai swapped out Feitian Moutai for blueberry juice at a buffet dinner ahead of a shareholders’ meeting.
- Since mid-May 2025：
- Kweichow Moutai’s shares have fallen 13%.
- May 28, 2025：
- Meituan joined the 618 shopping festival, offering Feitian Moutai at 1,499 yuan; within 24 hours, baijiu sales were up 70-fold year-on-year.
- June 11, 2025：
- Feitian Moutai’s average wholesale price slipped below the 2,000-yuan threshold.
- June 2025：
- China’s major e-commerce platforms extended their promotional campaigns for the annual midyear shopping festival (618).
- Wednesday, June 25, 2025：
- The average wholesale price of a 500-ml bottle of Feitian Moutai dropped to 1,780 yuan.
- Thursday, June 26, 2025：
- Kweichow Moutai’s shares closed at 1,420 yuan.
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新