U.S. whisky imports to South Africa surge
By Luyolo Mkentane - Jul 5th, 10:39
US whisky imports to the country grew to over US$10m last year. The imports surged by more than 17 percent in 2016, from US$8.9m to over US$10.5m in 2017.
Christine LoCascio, senior vice president for international issues and trade at the Distilled Spirits Council of the United States, described the growth as in line with an upward trend on all American distilled spirits imported to South Africa over the past year.
The council, which represents US producers, marketers and exporters of distilled spirits, said US spirits sold around the world hit a new export record in 2017, as they surged 14.3 percent from 2016 to US$1.64 billion.
“Consumer tastes for premium American spirits and favourable exchange rates are supporting global sales, particularly as American whiskeys are driving the fast-growing cocktail market,” said LoCascio.
“International adult consumers are exploring more expensive US spirits, driven by their fascination with American whiskey’s heritage and its versatility in cocktails.”
The top five markets for US spirits are the UK, Germany, Brazil, France and Spain. However, LoCascio said American whisky exporters were showing new interest in South Africa as an export destination.
“The key export growth drivers for US spirits are Tennessee Whiskey and Bourbon, particularly in the Premium and Super Premium categories, while the more specialised American Rye Whisky is also starting to show strong growth,” she said.
FNB senior agricultural economist Paul Makube said the fact that there was a surge in whisky imports from the US meant there was “growing demand” and an opportunity to raise local production to increase market share.
“(Whisky) consumption is on the rise spurred by the expanded middle class,” said Makube, adding that increased incomes and upward mobility into the higher LSMs was driving the whisky trend in the country.
“This is a niche market and unlikely to fade in the short to medium term as this segment of the market is relatively resilient despite the economic slowdown. Consumption will increase further as the economy recovers in the medium to longer term,” added Makube.IOL
Meat and poultry consumption on the rise in Africa
17/07/2018 - 14:54
The meat and poultry market in West Africa grew to 6.5M tonnes in 2016. In value terms, it stood at $16.1B, which was at the level of the previous year. Market size upturned from 2007 to 2014, with mild fluctuations, followed by an abrupt decline in 2015 and stabilisation in 2016.
Smarter marketing in the digital era
16/07/2018 - 14:09
An essential driver of digital transformation is how companies can use their data to remain relevant.
Tills chime for Pick n Pay’s Zim stores as retail, hoteling income grow
16/07/2018 - 10:47
Pick n Pay is raking in the profits from Zimbabwe and its partner in the struggling country is now looking to open more stores buoyed by stronger performance from its other operations across city and resort hotels as well as agro-processing.
SA factories do better than expected in May
12/07/2018 - 13:47
SA’s manufacturing output grew 2.3% in May from the same month in 2017, contradicting a drop predicted by the Absa purchasing managers index (PMI).
Nike names new chief sustainability officer
12/07/2018 - 08:59
Nike has named Noel Kinder has is new chief sustainability officer.