ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » World News

India, France drive Scotch whisky sales as Brexit looms

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

The value of Scotch whisky exports rose nearly 8 percent in 2018, backed by booming sales in India, France and the United States and the impact of pricier Scotch, data from Britain`s tax authority HMRC showed on Tuesday.

Britain`s biggest food and drink export grew 7.8 percent to 4.7 billion pounds ($6.05 billion) last year, with the number of 70 centilitre bottles sold abroad up 3.6 percent to 1.28 billion.

With Britain`s exit from the European Union trading bloc due in six weeks, there is still no decision on what the trade rules for British exports will be after that. Producers of Scotland`s flagship tipple are particularly worried about sales to the EU which make up about a third of their world market.

Scotch growth in recent years has been driven by demand for single malts, which are made at one distillery and pricier than blended Scotch which is made from mixing one or more whiskies.

Exports of single malts rose 11.3 percent to 1.3 billion pounds.

In volume terms, exports were primarily driven by growth in India, which expanded by 23.1 million to 112.6 million bottles. The United States and France - the world`s heaviest Scotch drinker - each grew exports by 9.4 million bottles.

At the same time, exports to Germany and Spain fell by around 10 million and 4.5 million pounds apiece.

"(The) industry does not take continued growth for granted," said Karen Betts, chief executive of the Scotch Whisky Association which represents 90 percent of the producers.

She urged Britain not to leave the EU without a Brexit deal at the end of March.

"We also want to see the UK and EU agree to an open and positive future relationship, which delivers frictionless trade with the EU, and the UK to secure ambitious trading relationships with key markets around the world."

The United States became the first billion-pound export market for Scotch in 2018, growing 7.8 percent to 1.04 billion pounds last year to retain its place as the largest market in the world for Scotch in terms of value.

Britain`s trade minister Liam Fox said in response to the data: "My international economic department is focused on turning the UK into an exporting superpower and, as our single largest food and drink export, the success of Scotch whisky overseas is key to this ambition."

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Tue, Feb 12, 2019
09:45 pm
Reuters
RELATED NEWS
GST Council to meet on February 18 GST Council to meet on February 18
No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says No timeline to remove old tax regime, Revenue Secretary Sanjay Malhotra says
RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll RBI to hike repo rate by 25 bps in February, ending tightening cycle: Reuters poll
Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis Pakistan raises petrol price by Rs 35, pushing retail cost to a whopping Rs 249.80 per litre amid severe food, energy crisis
Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan? Budget 2023: Why budget's printing was shifted to North Block from Rashtrapati Bhavan?

LATEST NEWS

Hindenburg Effect: Axis Bank says exposure to Adani Group is nearly 1% of total loans

Explained: What is Chinese spy balloon that was shot down by US Air Force - Check Video

This Dolly Khanna stock to trade ex-dividend on Monday – should you buy? analyst suggests this

Pakistan's rupee continues speedy crash against US dollar, suffers another big fall

FM Sitharaman says India's image not impacted by Adani's FPO withdrawal amid Hindenburg row

ITC Dividend 2023: Check record date, ex-date and payment date | ITC Share Price NSE Target

Apple CEO Tim Cook says India is ‘hugely exciting market’; confirms about opening retail store in the country

Kiara Advani and Sidharth Malhotra wedding: Bride-to-be arrives at marriage venue in Jaisalmer

Vani Jayaram songs list in Telugu, Malayalam and Kannada: Remembering veteran playback singer who sung over 10,000 songs

World Cancer Day 2023: Why it is celebrated on February 4? Check history, misconception, theme and more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV