Drop in import tariffs
“While Blended Scotch brands like Johnnie Walker, Chivas Regal and Ballantine’s could see a significant price drop ranging between Rs 500-700 a bottle, single malt brands like Talisker, Glenlivet, Glenfiddich and Lagavulin could get cheaper by Rs 600-800. At present, Scotch accounts for around 10% of total liquor sales across Kolkata’s bars. The cost of a peg of an entry-level blended Scotch could slide from Rs 400-450 to Rs 360-390. More expensive single malts could see a slide from Rs 500-1,200 a peg to Rs 450-1,100 per peg, said restaurant owners. “This will lead many to elevate to Scotch for there would be an 8%-10% price drop.
The price drop could boost the food and beverage sector in Kolkata in a major way with Scotch consumption already showing an upward trend, said Hotel and Restaurants’ Association of Eastern India (HRAEI) president Sudesh Poddar. This will also boost food sales,” said Poddar. We will definitely pass on the benefit to our customers,” said Sengupta. A large chunk of our customers now prefer Scotch,” said Kothari. We already have some offers, though,” said Pratap Daryanani, owner of Oasis on Park Street. Specialty Restaurants chairperson Anjan Chatterjee said he looked forward to the price drop and his outlets will pass on the benefit to consumers. “We will also have multiple schemes that will make Scotch more affordable to our customers,” added Chatterjee.
We plan to pass on the benefit to our customers as soon as the new prices come into effect. So, we expect a migration from high-end IMFL to blended Scotch and from blended Scotch to single malts. The price slash is a positive step and will help the food and beverage sector, felt Anirban Sengupta, owner of WhatsUp Café and co-chapter head of National Restaurants Association of India (NRAI). Despite a loyalty to Indian brands like Blender’s Pride and Imperial Blue, a significant section will switch to Scotch since the price difference will be minimal. The shift to Scotch started a few years back and this will prompt many more to upgrade, felt Nitin Kothari, owner of Mocambo and Peter Cat. “If the price difference narrows, a shift to single malts and blended Scotch is inevitable. Some felt that the peg price could drop marginally but it has prevented an upward revision of liquor prices. “We have not increased liquor rates since the drop was imminent. We will wait for our old stocks to get exhausted and lower prices after pujas. We will also have offers on Scotch once the new prices come into effect. Specialty Restaurants owns multiple restaurants including Mainland China, Oh!Calcutta, Cafe Mezzuna and Flame & Grill.
Bars and restaurants across Kolkata are bracing to lower their Scotch prices in the wake of a sharp 10%-15% price drop following an India-UK trade agreement that reduced import tariffs from 150% to 75%. Scotch prices in Bengal are expected to slide by 7%-10%. Kolkata: Tipplers have reason to say cheers with an extra peg of Scotch this festive season.