The craft bourbon craze in Europe is over due to a 25 percent import tax, reports Crain's Chicago Business. Bourbon exports for Few Spirits, based in Evanston, Ill., "dropped to zero" from 15 percent of revenue last year, according to owner Paul Hletko. The EU's tariff on bourbon, implemented in June, eliminated the demand for his product, which retails for $51 a bottle in the U.S.
Spiros Malandrakis, head of alcoholic drinks research at Euromonitor, says the tariffs have stunted the growth of bourbon in Western Europe. He predicts consumers will likely go to new whiskies from countries such as Canada or Sweden, or drink something else. Hletko notes the low six figures he's made this year from international orders were all booked before the tariffs' imposition. In addition, owner of Philadelphia-based New Liberty Distillery, Rob Cassell, says European buyers have dissolved. Full Story
Related: Amazon Enters Whiskey Market with Exclusive Scotch; Kentucky Bourbon Production at Record High.
from Specialty Food News https://ift.tt/2FWAhXJ
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