Is craft rum the following massive factor?

Australians have embraced craft wine, beer, whisky, vodka and gin. Might craft rum be the following massive factor?

David Ward and his enterprise companions and buyers at Sydney Rum Distillery imagine so. They’re so assured that they anticipate to spend $60 million over the following three years to construct a distillery, launch manufacturers and develop the enterprise.

“The majority of the rum around the globe on the premium finish – something that prices over $50 a bottle – comes out of the Caribbean and numerous their infrastructure has been under-invested in over the past half century, and so they’ve additionally received some points with their sugar cane,” Ward mentioned.

“It’s our view that Australian windfall and the standard of our sugar cane and including worth to that [is an opportunity]. The Australian and international [rum] scene is dominated by massive gamers, not dissimilar to the wine and different alcoholic drinks up to now, so we really feel rum is the following wave of premiumisation as a spirit.”

The corporate is taking a look at a possible web site close to Gosford to construct its rum distillery and hopes to have it below method by 2024.

In the meantime, the corporate, which was based in 2015, is mixing third-party rums and shopping for new make, the alcohol that comes straight off the nonetheless, after which maturing it.

Ward mentioned the alcohol trade was an excellent funding even when the financial system was weak.

“In good occasions, there are at all times folks desirous to benefit from the socialisation that comes with music and events and good firm and [that’s also true] in downturns,” Ward mentioned. “We noticed that within the GFC and in addition within the pandemic. It holds its personal as a commodity.”

Greg Holland, the chief government of Spirits & Cocktails Australia, mentioned there have been some superb rums being produced in Australia – particularly in Queensland.