Recently, Kweichow Moutai has set the official recommended retail price for its Feitian Moutai at RMB 1,499 per bottle, aiming to stabilize market prices through price controls. However, whether this measure can truly anchor prices remains highly debated. On one hand, the official price of RMB 1,499 is significantly lower than actual market prices (often exceeding RMB 2,500), highlighting a severe supply-demand imbalance—limited production capacity versus strong demand for premium baijiu, which fuels hoarding and speculative markups by resellers. On the other hand, despite Moutai Group’s repeated emphasis on enforcing the RMB 1,499 guideline and increasing allocations to direct-sale channels, retail prices have yet to normalize. Consumers often still need to purchase through bundled sales, lotteries, or secondary markets at inflated prices. Moreover, Feitian Moutai has evolved beyond a mere beverage into an investment asset and social currency, making its price highly sensitive to financial sentiment and speculation. Consequently, administrative price caps alone are insufficient to resolve the persistent price inversion. A more holistic approach—including expanding supply, optimizing distribution channels, and curbing hoarding and speculation—is essential to genuinely stabilize Moutai’s market price.
近期，茅台官方将飞天茅台的建议零售价定为1499元/瓶，试图通过控价手段稳定市场价格。然而，这一举措能否真正稳住酒价，仍存在较大争议。一方面，1499元的官方定价远低于市场实际成交价（通常在2500元以上），反映出供需严重失衡——茅台产能有限，而高端白酒需求旺盛，导致黄牛和渠道商囤货惜售，推高市场价格。另一方面，尽管茅台集团多次强调严格执行1499元指导价，并加大直营渠道投放，但终端市场仍难以实现价格回归。消费者往往需通过搭售、抽签或高价从二级市场购得，实际购买成本并未降低。此外，飞天茅台已不仅是消费品，更被视为一种投资品甚至社交货币，其价格受金融属性和市场情绪影响显著。因此，仅靠行政限价难以根本解决价格倒挂问题。要真正稳住酒价，还需从扩大供给、优化渠道结构、打击囤积炒作等多方面综合施策。
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