Wholesale reference prices for Kweichow Moutai continued to decline, according
to data. The 2026 vintage boxed bottles fell 30 yuan to 1,690 yuan per bottle,
while loose bottles dropped 50 yuan to 1,580 yuan.
The 2025 vintage also weakened, with boxed bottles down 20 yuan to 1,720 yuan
and loose bottles down 30 yuan to 1,620 yuan.