Any guest at a Chinese banquet will be used to the acrid smell of bai jiu – China’s favourite liqour. Demand for top-of-the-range bottles of the stuff, produced by Moutai, soared during Chinese new year. Moutai responded with a 20 per cent price hike in the domestic market.
But for those desperate to get hold of a bottle but without the necessary capital, all you have to do is get out of China, where prices are tumbling.
The China Daily reports that a 375-mililiter bottle of 53-degree Flying Moutai (the brand’s best-selling product) sold at a Chinese supermarket in the US for $82.99 (550 yuan). In China, the price for the same amount reached 1,050 yuan, according to the newspaper.
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