Date
25 April 2018

Wuliangye sets floor price for white wine, paper says

Luxury liquor maker Wuliangye Yibin Co. Ltd. (000858.CN) has set the minimum price for its white wine product with 52-percent alcohol concentration at 659 yuan (US$107.64) and warned distributors that their dealership will be taken away if they sell it below the price, the National Business Daily reported Tuesday, citing Zhu Zhongyu, vice president of the company, who spoke at a national distributors conference in Wuhan. According to some distributors, they have stopped buying the product because it costs them 729 yuan per bottle but they can only sell it for 660 yuan. The company aims to use the floor price to stabilize the market but some industry watchers are doubtful as the current trend of falling prices for high-end white wine persists, the report said.

– Contact HKEJ [email protected]

TL/AC/CG

 

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