Don't Freak Out, But There's A Global Shortage Of Old Single Malt Scotch
Bad news, booze connoisseurs: The world is apparently running out of aged single malt Scotch.
CNN Money recently investigated the shortage, which is causing prices of old Scotch to go up considerably. Aged Scotch is becoming so expensive that one savvy man, Rickesh Kishnani, began a whiskey investment fund — an investment fund that uses whiskey instead of money as its capital.
Since launching in 2014, Kishnani's 7,500 bottle collection has increased in value by approximately 26 percent (while at the same time, prices for gold continue to fall).
According to the report, the Scotch shortage is a result of too little production in the past to meet our current high demand. Annual sales for the classy beverage in the US tripled between 2002 and 2015, while global exports increased by 159 percent over a ten-year period ending in 2014.
As a result, Scotch distilleries are putting in all their energy to increase production.
However, Scotch, by definition, must be distilled for at least three years, so we won't see the shortage resolved for several years (some experts estimate it will last as long as 15 years).
So if you've got a bottle laying around, drink up now (or sell it, if it's unopened) — because chances are, older Scotches are going to be really hard to find in the coming years.