The 8-year "1499 Era" of Feitian Maotai has ended, and the Jinan market responded with a rise.

Ask AI · What market considerations are behind Moutai choosing this timing to adjust its prices?

On the evening of March 30, Guizhou Moutai issued an announcement stating that, effective March 31, 2026, the sales contract price of Feitian 53% vol 500ml Guizhou Moutai Wine (2026) would be adjusted from 1,169 yuan per bottle to 1,269 yuan per bottle, and the retail price within the self-operated system would be adjusted from 1,499 yuan per bottle to 1,539 yuan per bottle. This also means that the official guidance price of Feitian Moutai at 1,499 yuan per bottle—lasting for 8 years—has officially come to an end. What changes are there in the Jinan market? In response, reporters visited to find out.

“It came out of the blue”

Jinan liquor merchants see sales rise by 30%

On the morning of March 31, at a liquor store in Tianqiao District, Jinan, the shop owner, Mr. Zhang, was busy nonstop. “Many customers are coming to ask for prices,” he told reporters. He said that right after Moutai officially announced the price increase, the prices followed suit. The loose-bottle and case prices of 2026 Feitian Moutai were 1,700 yuan per bottle and 1,800 yuan per bottle, respectively, which is an increase of 100 yuan per bottle compared with the previous day.

In Mr. Zhang’s view, affected by factors such as declining sales and channel merchants dumping goods at low prices, the market price of Feitian Moutai once fell to 1,500 yuan per bottle last year. In addition to controlling volume, Moutai also stabilized prices and boosted market confidence by raising the retail price.

When asked about the subsequent trend, he judged that the upward space is limited in the short term. “The market will have a digestion period. If demand keeps up, prices may rise again.”

The owner of a liquor store in Lixia District, Ms. Wang, also felt that the price increase “came out of the blue.” “The prices were adjusted overnight. For 2026, the loose bottles of Feitian increased from 1,599 yuan per bottle to 1,650 yuan per bottle; the case increased from 1,690 yuan per bottle to 1,750 yuan per bottle.” She said that if Moutai continues to control volume, prices could rise to 1,900 yuan per bottle. “When Moutai adjusts its prices, sales increase by 30%.”

According to data from the third-party platform “Today’s Liquor Prices,” on March 31, the prices of 2026 53% vol 500ml Feitian Moutai loose bottles and cases both increased by 50 yuan, to 1,600 yuan per bottle and 1,700 yuan per bottle, respectively.

After that, reporters visited multiple liquor stores in Jinan and found that the Feitian Moutai prices they sell—both loose bottles and cases—had increased to varying degrees. Taking the 2026 Feitian Moutai as an example, the retail prices for both loose bottles and cases have generally been maintained at around 1,750—1,800 yuan per bottle. Some liquor merchants said, “On the iMoutai app, loose bottles continue to be released in larger quantities, so price fluctuations are limited, but case volume is smaller—prices are likely to rise again.”

Increased by 40 yuan

The 8-year ‘1,499 era’ comes to an end

At 9:00 a.m. on March 31, “iMoutai” officially began selling 2026 Feitian Moutai priced at 1,539 yuan per bottle, marking the first “rush day” after the price increase. Reporters observed that between 9:00 a.m. and 9:30 a.m., although the platform released batches of inventory every 5 minutes, each batch sold out in less than 1 minute, and consumers’ buying enthusiasm remained high.

Reporters found that the ex-factory price of Feitian Moutai has been adjusted multiple times: in 2012 it was raised from 619 yuan per bottle to 819 yuan per bottle; in 2018 it was raised to 969 yuan per bottle; in November 2023 it was raised again to 1,169 yuan per bottle; and in this round it was adjusted from 1,169 yuan per bottle to 1,269 yuan per bottle.

For self-operated retail prices, on January 9, 2018, Guizhou Moutai announced that all subsidiary companies at all levels must sell Feitian 53-degree 500ml Moutai at a marked price of 1,499 yuan per bottle. Since then, the self-operated retail price of Feitian Moutai has long been locked at 1,499 yuan per bottle. This adjustment also means that the official guidance price of Feitian Moutai at 1,499 yuan—lasting for 8 years—has officially come to an end.

Over these eight years, the market price of Feitian Moutai has seen deep ups and downs. After the price adjustment in 2018, its market price rose sharply. In 2019, Feitian Moutai climbed to above 3,000 yuan per bottle. 2021 was the year when Moutai’s prices rose the fastest.

Starting in 2024, the white liquor industry entered a period of downward shock. The unit price of Feitian Moutai loose bottles fell from about 2,700 yuan at the beginning of the year to around 2,100 yuan. Entering 2025, due to changes in supply and demand, prices continued to fall, with a decline of more than 35% within half a year. On December 12, 2025, data from the third-party platform “Today’s Liquor Prices” showed that the wholesale reference price for 2025 Feitian Moutai loose bottles (53% vol, 500ml) fell to 1,485 yuan per bottle, and the case quote was 1,495 yuan per bottle—marking the first time it dropped below the official guidance price of 1,499 yuan.

In January 2026, “iMoutai” released inventory at 1,499 yuan per bottle, triggering another buying rush, and the market wholesale price fell below the official guidance price again. Although Guizhou Moutai implemented volume control and price-protection policies, market prices fluctuated only within a limited range, and price inversion became a temporary norm.

Experts: Moutai follows the market

There won’t be a large-scale wave of price hikes for famous liquors

In fact, signs of this price adjustment by Moutai were already apparent in advance. Since January 1, Guizhou Moutai has successively adjusted the self-operated retail prices of multiple non-standard products, including boutique Moutai, zodiac Moutai, and aged Moutai (15).

On January 14, Guizhou Moutai mentioned in its announcement of the “2026 Guizhou Moutai Market-Oriented Operation Plan for Guizhou Moutai Wine” that it would orient itself toward the market, and build a dynamic adjustment mechanism for retail prices within the self-operated system featuring “follow-the-market and relatively stable.” For distribution models, sales contract prices would be scientifically calculated and adjusted dynamically based on different products, channels’ operating costs, operating difficulty, and service capabilities.

However, in this price adjustment, Guizhou Moutai only clarified the retail prices within the self-operated system and did not impose any rigid requirements on terminal selling prices within the distributor system. Many industry insiders believe that this gives distributors room to set prices freely according to market conditions.

“This time, the price adjustment was scheduled during the off-season for liquor consumption, and it’s also a trial.” Mr. Sun, who has been in the liquor business in Jinan for many years, believes that “1,499 yuan” was once synonymous with Feitian Moutai. Breaking through this official guidance price is essentially opening up new pricing space for distributors, who can then set prices freely based on future market demand. He predicts that Moutai in the future may adjust prices according to market dynamics, while maintaining price stability through volume control via “iMoutai.”

Since 2025, China’s baijiu (white liquor) industry has entered a deep-water zone where three phases overlap: “policy adjustments, consumption transformation, and competition among existing players.” High channel inventories and widespread price inversion have become typical industry conditions. Against this backdrop, why did Guizhou Moutai choose to adjust prices “counter to the cycle”?

In response, Guizhou Moutai said that this year, Moutai has adhered to a consumer-centered approach, comprehensively advancing the market-oriented transformation of its marketing system. After nearly 3 months of practice—especially with “iMoutai” launching the sale of series products such as Feitian Moutai—the boundaries of the consumer group have been expanded, true market demand has continued to be released, and initial results have been achieved in the market-oriented transformation. After the Spring Festival, the white liquor industry entered the traditional off-season, when overall demand becomes more rational. Adjusting the prices of related products at this time can reduce impact on the market, effectively curb price volatility, prevent price speculation, and better create a good, stable, and orderly market environment.

Baijiu industry analyst Cai Xuefei said that this “double price adjustment” is a landmark move as Moutai’s market-oriented reform steps into deep water—reestablishing a balance between the market transaction price and the official guidance price. It both squeezes out channel bubbles and stabilizes the industry’s basic fundamentals, maintaining a healthy long-term ecosystem. By building a more transparent and more consumer-close pricing system, it achieves high-quality and sustainable development.

After Feitian Moutai’s price increase, will other famous liquors follow with price hikes? “Even if other high-end liquors raise prices at the same time, it is a defensive move by leading companies to maintain the thousand-yuan price band amid industry turbulence,” Cai Xuefei said. In the industry-wide cycle of “de-bubbling,” the essence of this round of adjustments is deep differentiation rather than an across-the-industry general price increase, and there will not be a large-scale wave of price hikes for famous liquors.

Source: Qilu Yidian