“We haven’t seen any changes. Scotch whisky between €50 and €100 is selling really well, and so is the €100—€1,000 premium sector, says Sukhinder Singh of London-based specialist retailer The Whisky Exchange. Meanwhile, “export figures for the first 10 months of 2008 show malt whisky up 5% in volume and 15% in value, with China and India, for example, opening up to Scotch whisky,” says Campbell Evans, director of government and consumer affairs for the Scotch Whisky Association.


Cognac’s widespread appeal may also insulate it to some degree. “In 2008, the drink’s global volume fell by 6.2%, but its value rose 0.3%, says Jérôme Durand of the Bureau National Interprofessionnel du Cognac. However, with the Asian economy hitting a brick wall in 2009, it remains to be seen how well whisky and cognac will ride it out. 


“The important point is that we don’t want to be fixated on the next 12—15 months when we need to think about the next 12—15 years,” says Campbell Evans. In the short term, claims Singh: “The [whisky] category is very flexible and you can happily go from a 25- to an 18-year-old malt whisky, or from an 18- to a 12-year-old, without losing quality, it’s just going to be a different style of whisky.” Following that advice, here are two whiskies with sub-€50 price points and a bottle of cognac that struck us as being incredible value for money despite the higher price. 


Caol Ila


An annual highlight in the malt whisky calendar is the Classic Malts Selection Special Releases (from Diageo). The 2008 release of limited-edition, cask-strength malt whisky includes Caol Ila aged eight years, “Unpeated Style,” distilled in 1999 and bottled in 2008 (€43, www.malts.com). Only 5,664 bottles have been released worldwide, and being unpeated this provides a contrast to the usual, smoky Caol Ila. Produced on the Scottish island of Islay, its rich, lively aromas lead to dried fruit sweetness on the palate, followed by vanilla and chocolate, before another wave of dried fruit.


Scapa


One of the most northerly malt whisky distilleries, being located on the Scottish island of Orkney, Scapa is also ancient, dating from 1885. The release of Scapa 16-year-old (€50, www.scapamalt.com) replaces the 14-year-old and offers an indulgent aroma and delicate texture offering a rich flavour of honey and vanilla, which continues to open up and release greater complexity, with a rich finish thriving on crème caramel sweetness.


Frapin


Blending the richness of the 1982 with the fruitiness of the 1983, and elegance of the 1985, Cognac master Frapin has launched a multi-vintage, Multimillesime (€150, www.cognac-frapin.com). A total of 1,270 individually numbered bottles have been produced, with this Cognac hailing from the Frapin family’s Chateau Fontpinot within the Grande Champagne region, which is renowned for its sophistication.