In recent years, the price of Feitian Maotai has continued to decline. On December 12, 2025, the wholesale prices of the 2025 model 53% ABV 500ml Feitian Maotai original boxed bottle and bulk bottle both dropped below 1499 yuan, the official guidance price, hitting a new low since 2017.
According to the third-party platform “Today’s Liquor Price” disclosed wholesale reference prices for various well-known liquors, the 2025 Feitian Maotai bulk bottle fell by 15 yuan compared to the previous day, at 1485 yuan per bottle; the 2025 Feitian Maotai original boxed bottle dropped by 15 yuan compared to the previous day, at 1495 yuan per bottle. The latest reference prices have plummeted by over 30% from the previous levels of 2220 yuan and 2255 yuan, and for the first time dipped below the official guidance price of 1499 yuan.
On December 28, 2017, Guizhou Maotai set the market guidance price for the 53% ABV 500ml Feitian Maotai at 1499 yuan per bottle, distinguishing it from the factory price to ensure distributors have sufficient profit margin. However, for a long time, Feitian Maotai maintained high premium levels, with the market price soaring above 3500 yuan in 2021.
Several liquor distributors told news reporters that the price drop this time is not a sudden occurrence but a continuous decline in the market situation over the past month. Starting from late November, the wholesale price of the 2025 Feitian Maotai has been slowly decreasing, initially thought to be a short-term inventory adjustment, but unexpectedly dropping below the guidance price.
Mr. Li, the person in charge of a tobacco and liquor store in Jinan, mentioned that the retail price of the 2025 Feitian Maotai in their store has been adjusted to 1555 yuan per bottle. He said, “Seeing Feitian Maotai selling for 1500 yuan in the market is something we couldn’t have imagined in previous years.” In top-tier cities like Shanghai and Guangzhou, the wholesale price for the 2025 Feitian Maotai bulk bottle has dropped to as low as 1550 yuan per bottle, only 65 yuan higher than the daily average wholesale price, intensifying price competition.
According to “Yicai”, many liquor merchants have reported that secondary wholesalers and retailers have lost confidence in Maotai prices and are adopting a strategy of quick turnover without hoarding goods. Some businesses that previously kept stocks are now focusing on fast turnover. They anticipate that Maotai prices will have difficulty bouncing back in the short term, further squeezing the price space for other premium liquors, leading to increased operational pressure at the year-end.
Throughout this year, the overall trend for Feitian Maotai prices has been on a downward trajectory. The wholesale price of the 2025 Feitian Maotai original boxed bottle has successively breached the 2000 yuan, 1900 yuan, 1800 yuan, 1700 yuan, 1600 yuan levels, falling all the way to near the official guidance price in December, being priced at 1510 yuan per bottle on December 11.
The bulk bottle wholesale price first dropped below the psychological threshold of 2000 yuan on June 11, officially opening the price reduction channel: falling below 1900 yuan on June 22, breaking through 1800 yuan on June 25. Although it briefly rebounded to 1880 yuan on July 7, it fell below 1800 yuan again on August 29, dropped below 1700 yuan by the end of October, and further slipped below 1600 yuan at the end of November.
As reported by “The Paper”, in December alone, the wholesale price per bottle of the 2025 Feitian Maotai has plummeted by 80 yuan.
“Pacific Securities Research Report” mentioned that the liquor industry is currently under continued bottoming pressure in terms of fundamentals, pricing, and market expectations. The sector faces a dual challenge of high inventory levels and weak demand. On one hand, channel inventories are high, causing substantial financial pressure on distributors with low willingness to make payments for purchasing; on the other hand, traditional governmental and high-end business consumption scenes are contracting, resulting in insufficient real consumer motivation for uncorking and consumption.