Kweichow Moutai expects 15% increase in production this year

BEIJING - China Kweichow Moutai Distillery Co, the parent of the world's second-largest listed distiller by market capitalization, forecast a 15 percent increase in output this year as the country's rising incomes boost alcohol demand.

"Even though we've raised prices quite a few times these past years, demand is still strong," Chairman Ji Keliang said in an interview in Beijing on Tuesday. "Our distributors keep requesting that we increase production."

Production will reach 30,000 tons this year after the distiller raised prices an average of 20 percent at the beginning of the year because of demand and the higher costs of raw materials, Ji said.