Whisky Investment Podcast S3 E6: Cycles, Trade Deals and Opportunity with Tommy Major

What does the whisky cask market really look like in 2026? In this episode, Alwynne Gwilt sits down with Tommy Major, Head Cask Broker at VCL Vintners, for an honest conversation about the forces shaping the industry right now.Tommy breaks down what historic trade deals with India and China mean for investors, why geopolitical uncertainty can actually strengthen the case for whisky as a tangible asset, and how distilleries slowing production today could create real scarcity tomorrow. He shares where the smartest opportunities lie for long-term holders and why patience remains the single most important quality in this market.We also explore the explosive growth of Southeast Asia, with Vietnam emerging as the fastest-growing whisky market in the world, and talk about a new generation of drinkers who are rewriting the old stereotypes about who enjoys whisky and why.Whether you are new to cask investment or have been in the market for years, this episode is packed with practical insight and grounded optimism for the road ahead.

Was 2025 really a bad year for whisky, or just a misunderstood one?In this episode of The Whisky Investment Podcast by VCL Vintners, whisky journalist Alwynne Gwilt sits down with VCL co-founder Benjamin Lancaster to unpack what really happened in the cask market last year – and what it might mean for investors in 2026 and beyond.Ben shares an insider view on headlines about oversupply, softer luxury demand and production pauses, and explains why the picture for long-term cask investors looks very different once you dig beneath the surface. From increased access to stock and younger casks at sensible entry points, to the slow but significant impact of tariffs, trade deals and changing drinking habits, this is a grounded look at whisky as an asset class rather than a hype cycle.In this episode: • 2025’s whisky headlines vs on-the-ground investment reality • Why more available stock is not the same as a crash • How VCL approached younger vs mature casks last year • Bourbon, Tennessee whiskey and the Jim Beam production pause • Trade deals, tariffs and new routes to growth in India and beyond • New distilleries, brand pedigree and why exit strategy matters • How VCL clients still achieved double-digit returns in a “difficult” yearIf you are already invested in casks, considering your first allocation or simply curious about what is really happening behind the headlines, this conversation is for you. Subscribe to The Whisky Investment Podcast by VCL Vintners for more conversations at the intersection of whisky, markets and long-term investing. https://www.youtube.com/playlist?list=PL7BwEIxUoOl1BmOhZsQwD1UbNo5BXvs-h(This content is for information and education only and does not constitute financial advice.)

 How do you actually taste whisky, beyond reading the notes on the labelIn this episode of The Whisky Investment Podcast by VCL Vintners, whisky journalist Alwynne Gwilt sits down with New York based author and drinks journalist Mandy Naglich, known online as @drinkswithmandy, to explore the science of flavour and the art of becoming a better taster.Mandy, one of the first 100 Advanced Cicerones in the world and author of How to Taste, breaks down how your nose, memory and emotions work together every time you raise a glass. From the comforting power of vanilla and early childhood flavour memories, to why your brain is still the best analyser in the room, this conversation is full of practical ways to sharpen your senses. Whether you are a whisky investor, collector or simply someone who enjoys a well made dram, Mandy shares simple techniques you can use on anything from your morning coffee to a special single cask. You will learn how to build your own flavour library, why suggestion and marketing can change what you think you taste, and how regular tasting practice can even benefit long term brain health.Listen in if you want to:Understand why flavour is mostly smellLearn a single method that works for tasting whisky, wine, coffee and moreBuild confidence in your own palate instead of copying tasting notesUse better sensory skills to make more informed whisky choicesSubscribe to The Whisky Investment Podcast by VCL Vintners for more conversations at the intersection of whisky, flavour and finance.

In this episode of the Whisky Investment Podcast, whisky journalist Alwynne Gwilt is joined by Pete Allison, whisky maker at Woven, the Edinburgh based blending house that is quietly rewriting the rules of modern whisky.From a tiny lab in Leith, Woven brings together spirits from Scotland, England, the Nordics and beyond to create blends that focus on texture, balance and storytelling. Pete shares how the team sources casks from around the world, why they see blending as the most creative act in whisky, and what projects like “Friends in the North” and “Pastures New” reveal about the future of global whisky.Whether you are a whisky enthusiast, a world whisky explorer or an investor curious about where the category is headed, this episode shines a light on a brand that sits at the intersection of craft, design and experimentation.👉 What you’ll learn in this episode:• How Woven went from a lockdown idea to an international blending house• Why blending is at the heart of modern whisky creativity• How Nordic and English distilleries are shaping new flavour profiles• The story behind “Friends in the North” and “Pastures New”• Why texture, clarity and balance guide every Woven whisky

In this episode of the VCL Vintners Whisky Investment Podcast, whisky journalist Alwynne Gwilt visits Doghouse Distillery in Battersea, London, home to the city’s first bourbon style corn whisky.She’s joined by co‑founder Katherine Saunders who shares the distillery’s grain to bottle ethos, their journey from gin to moonshine, and the launch of their bold three year old American style corn whisky. Discover how Doghouse blends creativity, sustainability and a rebellious spirit to make one of London’s most distinctive whiskies.Whether you’re a whisky enthusiast, cocktail lover or curious about innovative distilling in the UK, this episode offers a rare inside look at a truly unique urban distillery.What you’ll learn in this episode:• How Doghouse became London’s first bourbon style whisky distillery• Why grain to bottle matters in craft distilling• The journey from moonshine to mature whisky• How art led branding sets Doghouse apart• The role of British farming in their whisky production

With former trade adviser Alex BoydWe’re back with Season 3 of the Whisky Investment Podcast, and this year we’re kicking things off with a truly global perspective.In this first episode, whisky journalist Alwynne Gwilt is joined by Alex Boyd, a former UK government trade adviser turned international trade consultant. Together, they unpack the implications of the long-awaited India UK Free Trade Agreement. The focus is on how it impacts Scotch whisky exports and what that means for investors in the space.From Brussels to Whitehall: Meet Alex BoydAlex Boyd has spent over 15 years shaping trade policy, working in both the European Union and the UK government. He has advised trade secretaries, foreign secretaries and senior ministers through Brexit and beyond, and now works with Strand Partners to help clients navigate global trade and investment policy.His expertise places him in a unique position to interpret the true significance of the India UK trade deal, particularly for the premium drinks sector.A 20-Year Journey to AgreementThe India UK deal is the product of nearly two decades of negotiation. Initially pursued through the EU in 2006, talks stalled and were abandoned in 2013. Post-Brexit, the UK restarted talks independently, identifying India as a high-priority partner due to its massive consumer base, rapid economic growth and high trade barriers.India has long been considered a closed and protectionist market, especially in categories like spirits where local production dominates and regulation varies from state to state. Despite this, Scotch whisky has maintained strong brand appeal in India, owing to cultural legacy and aspirational branding.Scotch, Tariffs and a Historic BreakthroughBefore this agreement, imported Scotch faced a 150 percent tariff in India. The new deal cuts that to 75 percent immediately, with a pathway to reduce it further to 40 percent over the next ten years.Boyd explains that while zero tariffs were the industry’s ambition, 40 percent is still a landmark achievement. Given the complexity of negotiating with India and the political sensitivity around alcohol imports, the result is seen as a major success.The Scotch Whisky Association called the deal “landmark” and expects exports to India to grow from £300 million today to between £500 million and £1 billion within five years.From Colonial Legacy to Bollywood AspirationsIndia has a long-standing relationship with whisky, beginning with British colonial rule and later reinforced through Bollywood’s portrayal of whisky-drinking characters. Over time, whisky evolved into an aspirational and celebratory drink, distinct from beer and other spirits.Today, India is the world’s largest consumer of whisky by volume, yet it still ranks only fifth or sixth by value. That gap represents a major growth opportunity, particularly for premium and ultra-premium Scotch producers.What It Means for the Industry and InvestorsThe impact of the deal will not be immediate, but Boyd believes the ripple effects will be far-reaching:Producers are expected to ramp up long-term supply to meet projected demandFarmers and maltsters may see benefits first through increased ordersExports to India could eventually rival those to the United StatesInvestment opportunities in aged casks and premium bottlings are likely to growFor whisky investors, particularly those looking at cask holdings or luxury-grade bottlings, this deal could unlock new markets and future valuation uplift.

Welcome to Episode 10 of The Whisky Investment Podcast by VCL Vintners! In this special on-location episode, whisky journalist Alwynne Gwilt travels to the Copper Rivet Distillery in Kent to sit down with Head Distiller Abhi Banik. Together, they uncover the unique story behind one of England’s most innovative craft distilleries.Alwynne and Abhi explore how Copper Rivet stands apart through its rare grain-to-glass approach, local ingredient sourcing, and pioneering distillation techniques. From custom-built stills to a patented hybrid still system, Abhi explains how meticulous process control and a commitment to provenance underpin every drop of their spirit.Listeners will gain insights into how the distillery’s unusual setup allows it to create multiple new make styles, offering a painter’s palette of flavours that evolve through fermentation, distillation, and maturation. Abhi also shares the inspiration behind their delicate single malt – a whisky shaped by science, heritage, and a passion for flavour-first distilling.This episode offers a rare glimpse into the thoughtful design of a modern distillery rooted in tradition, and how Copper Rivet is redefining English whisky with clarity, craftsmanship, and character. Don’t miss this deep dive into the future of craft whisky from one of the category’s most exciting players.

Welcome to Episode 9 of The Whisky Investment Podcast by VCL Vintners! Join whisky journalist Alwynne Gwilt as she sits down with Vinay Chavda, Head of IT at VCL Vintners, to delve into the innovative world of whisky investment technology. In this episode, Alwynne and Vinay explore how VCL is transforming traditional whisky investment through cutting-edge digital platforms, creating a seamless and transparent client experience.Vinay shares insights into the VCL investor portal, detailing how it empowers investors with real-time access to their portfolios, simplifying complex investment journeys. He discusses the groundbreaking integration of blockchain technology to digitise whisky inventory, ensuring traceability, security, and enhanced historical detail for every cask.Listeners will also discover how VCL is pioneering advancements with digital deeds and the introduction of Proof 8, a revolutionary end-to-end cask management system designed to modernise whisky investment processes from production to investor management. Additionally, Vinay explains how artificial intelligence is being leveraged within VCL's CRM systems, optimising client relations and maximising investment opportunities.This episode highlights VCL's commitment to blending tradition with technological innovation, making whisky investment accessible to a broader demographic, including younger investors seeking alternative investment options. Tune in to gain valuable insights into the exciting future of whisky investment technology and learn how VCL Vintners is setting new industry standards.

Join whisky journalist Alwynne Gwilt as she sits down with Francisco Rosa—better known as Chico—the whisky maker at England’s Fielden Distillery. In this episode of the VCL Vintners Whisky Investment Podcast, we dive into Fielden’s groundbreaking approach to whisky making, blending traditional techniques with sustainable, regenerative farming. Chico shares insights into his journey from winemaking in Portugal to whisky production in England, the importance of grain diversity, and how Fielden is redefining rye whisky. Discover how soil health, heritage grains, and unconventional approaches to maturation are shaping the future of whisky. Whether you’re a whisky enthusiast, an investor, or simply curious about the next evolution of craft distilling, this episode is packed with fascinating insights you won’t want to miss.

Join whisky journalist Alwynne Gwilt as she sits down with VCL Vintners co-founder Benjamin Lancaster and Head Cask Trader Tommy Major to reflect on the whisky investment landscape of 2024 and what’s ahead for 2025. In this episode of the VCL Vintners Whisky Investment Podcast, we explore how global events, shifting investor sentiment, and changing whisky availability shaped the past year—and the opportunities that lie ahead. Discover why Scotch whisky remains a resilient asset, how tequila is emerging as a new investment opportunity, and what trends will define whisky investment in 2025. Whether you're an experienced investor or just starting out, this episode is packed with insights you won’t want to miss.