Nomura said volumes are still "robust" when making adjustments for the prior year

Nomura said volumes are still "robust" when making adjustments for the prior year

US spirits volumes fell last month with Diageo's brands the worst hit, according to latest industry figures. 

National Alcohol Beverage Control Association (NABCA) data published today (23 April) showed that overall industry volumes dropped by 2.7% in March. The figures cover 19 US control states, accounting for around 25% of the US distilled spirits market. 

But analysts Nomura, which published the numbers in a note, flagged that Michigan and Utah reported a week less of sales on the prior year. With this adjustment and accounting for an early Easter, volumes were up 2.9%, Nomura said. 

"The underlying March volume growth is in line with our FY industry estimate of around +3%," the note said. 

Price/mix for March was "robust", up 3.5%, improving on February (+3%) and in line with January’s 3.6% rise, Nomura said. 

Diageo fared the worst out of the major producers, with volumes down 8.4% in March, the data showed. Captain Morgan's volumes fell 15.5%.

Pernod saw volumes down 2.8% in the period. Brown-Forman suffered a 3.7% volumes drop, Beam -5.6% and Remy -1.2%. The only riser was Campari with volumes up 6.2% in the month.