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Scotch whisky production is falling sharply as US tariffs add 10% to importers' costs and single malt tariffs of a further 25% are due to return next spring. Shipments to China fell 31% last year.
Exports to India are set to benefit from tariff cuts.
Lower distillery output reduces demand for malting barley, a small effect on feed markets. The main impact falls on spirits trade rather than feed commodities.
bbc.comDouglas FraserDec 12, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
