Instead of looking to the stock market, savvy investors have begun snapping up bottles of single malt Scotch. According to the Investment Grade Scotch Whisky Index, whisky prices climbed 14 percent last year, beating other traditional assets like gold. The value of Kishnani’s whisky fund, which is based in Hong Kong and boasts an impressive collection of about 7,500 bottles, has increased 26 percent since it started in 2014.

Whisky lovers around the world are snapping up bottles of aged Scotch so quickly that prices are reaching an all time high. Distilleries are ramping up production to help meet demand, but it’s not fast enough as collectors of older vintages face continually escalating prices for coveted single malt Scotches, reports CNN Money.

The shortage of old and rare single malt … has already started, and it’s going to get worse, Rickesh Kishnani, founder of the world’s first whisky investment fund, told CNN.

Scotch has always been produced in limited quantities but in the late 1980s, many distilleries started going out of business. Exports of Scottish whisky have been stagnating but global demand for the spirit has escalated dramatically in the past decade. In the U.S., sales of single malt Scotch (which is whisky made from the product of a single distillery rather than a blend) almost tripled between 2002 and 2015, according to the Distilled Spirits Council of the United States. Demand in Asia has also sky-rocketed, and it now accounts for one-fifth of all Scotch exports annually.

In China, everybody is talking about it, Stephen Notman of the Whisky Corporation, a whisky investment firm, told CNN Money. “Nobody thought in a million years that there would be a market there for 30-, 40-year-old whisky.

 

Despite distilleries efforts to boost production, experts say the shortage—and continuing price escalation– could last 10 to 15 more years.

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