It is said that Moutai's inventory has topped 20,000 tonnes. Industry insiders believe that unconfirmed information moved some dealers to lower prices in order to destock and cash in.
Moutai's wholesale price may drop below 1,200 yuan by next May or June, Tie Li, an liquor expert told Securities Daily.
A dealer in downtown Beijing, who declined to be identified, said that government restrictions on official consumption of high-end liquor have dampened sales.
Amid downturn worries, Chinese liquor makers tend to spend hundreds of millions on commercials to woo more hard-to-please drinkers.
Moutai spent 352 million yuan and Wuliangye 499 million to seize ad slots before flagship evening news shows when bidding opened on Sunday for right to advertise on CCTV, China's state-run television, in 2013.
Moutai, Wuliangye, Jiannanchun and Fenjiu spent a total of 1.72 billion yuan for commercials on CCTV in the bidding.
Landmark building should respect the public's feeling
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