Members and Advisors of the Cask Whisky Association gathered at The Glenturret.
Whisky fans who want to invest in Scotch are being advised to seek professional advice by a new trade body created by a small band of cask brokers.
The CWA aims to share best practice and has formed an advisory board that includes distillery bosses, a lawyer, and an insurance broker. Experts have warned previously that the reputation of the Scotch whisky category is under threat from traders selling casks without the relevant paperwork, such as delivery orders.
The Scotch Whisky Association (SWA), the trade body that represents distilleries, issued guidance in 2020 for cask investors. Colin Hampden-White, chair of the new advisory board, said: ‘The CWA exists to protect private customers from unscrupulous business practices and traders and safeguard independent bottlers from over-inflated pricing. ‘Our members are committed to, and will provide guidance on, best practice.’
Whisky author and advisory board member Hans Offringa added: ‘If you want to buy whisky, go to a trusted company and get some advice – that way you will avoid any pitfalls. That’s why I think certification and licensing is so important; the CWA provides a quality hallmark for people looking to buy and invest in whisky. There are a lot of cowboys out there and we don’t want them to discredit good companies and ruin good business.’
News of the CWA’s launch came as Wendy Chamberlain, chair of Westminster’s Scotch whisky all-party parliamentary group, wrote to the business minister responsible for