Taking Stock of US Whiskey Inventories

Dear Client:  Higher inventory levels at the wholesale and retailer tiers has been a hot topic as of late, but a recent Bernstein note turned its attention to another growing inventory - maturing whiskey. US WHISKEY MARKET SNAPSHOT. In 2022, bourbon inventories reached an "all-time high" of 12.6 million barrels, equivalent to about 8.5 years' worth of 2022 bourbon demand currently aging in warehouses, according to the Kentucky Distillers' Association. That's a 150% increase over the last decade. "This reflects increasing production