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GUIYANG - Liquor producer Kweichow Moutai Group will put at least 7,000 tons of its famous Moutai liquor on the market before Spring Festival, China"s lunar new year, to meet demand.
Spring Festival falls on Feb 16 this year.
Moutai is a sorghum-based spirit produced by Kweichow Moutai Co. Ltd. and is China"s top brand of baijiu (white alcohol). The liquor, often served on official occasions and at state banquets, is considered a luxury item that has long been a popular gift.
Kweichow Moutai has raised the retail price of a 500 ml bottle of 53-degree Feitian Moutai, its flagship product, to 1,499 yuan ($232) this year from 1,299 yuan last year.
The group hopes to generate revenue of at least 90 billion yuan in 2018.