Bottoms up! Whisky lovers are draining the world's supply of old single malt Scotch.
Thirst for the liquor is booming around the world -- from the U.S. to developing countries like China -- pushing prices of older vintages through the roof, attracting savvy investors hoping to cash in and forcing distilleries to scramble to meet demand.
"The shortage of old and rare single malt ... has already started, and it's going to get worse," said Rickesh Kishnani, who launched the world's first
whisky investment fund.
The problem is that age-labeled single malt Scotch has always been, by design, a limited commodity. Distillers produce a set amount in a given year with pretty much zero visibility about what demand will be like when the bottles start hitting venerable ages.
The industry woke up to the current boom too late. In the late 1980s, many distilleries were going out of business, and just a decade ago, Scotch exports were stagnating.
More capacity is being added now, but the bad news for whisky drinkers is the shortage could last another 10 to 15 years, experts say.
