(Yicai Global) Aug. 21 -- As the Mid-Autumn Festival nears, the price of 53 Degrees Flying Moutai liquor (the best-selling Moutai product) which was previously priced at USD195 (CNY1,299) by its distiller Kweichow Moutai Co. (SHA:600519 has risen to CNY1,800 a bottle despite price curbs.
The highest-priced A-share, Kweichow Moutai's stock price recently hit CNY500 for a historical high.
A shortage of 53 degrees Flying Moutai currently afflicts many supermarkets and liquor stores in Guangzhou in China's southeastern economic hothouse of Guangdong province. Some liquor stores can provide a small quantity for between CNY1,600 and CNY1,800, XKB.com.cn reported.
The supply shortage has also hit online channels. JD.com offered Flying Moutai at 3.00 p.m. on Aug. 15, but sold out in just a few minutes. Then it planned to offer a new batch from 3.30 to 3.35 on Aug. 30 for five minutes. By Aug. 19 at 10.00 a.m., 12,379 people had booked to buy. Online platforms such as feiniu.com, and Suning.comwere also out of stock.
On May 3, Kweichow Moutai fixed its unified national price of 53 Degrees Flying Moutai at CNY1,199 a bottle and the retail price at supermarkets, chain stores, franchised stores, and e-commerce platforms at CNY1,299 a bottle, effective immediately.
These fixed prices have already been knocked aside. A purchaser from a wine e-commerce platform said that Moutai has long been out of stock.
Though Kweichow Moutai said it will increase the liquor supply in September to twice the average monthly amount, several industry insiders nevertheless believe that the market will still suffer shortfalls, since investors may speculatively stockpile it.