Singapore: Beverage giant does not foresee ‘major impact’ from alcohol increases

Starting from April 1, 2024, the price hikes will be implemented on 19 SKUs of five domestic brands, as well as 98 SKUs from 19 brands of imported whisky, liqueur and wine. For the local brands, the price increases will range from 20% to 125%. For instance, the suggested retail price of Suntory Hibiki 30 years, Suntory Yamazaki 25 Years, and Suntory Hakushu 25 Years will increase from JPY160,000 (USD1,400 ) to JPY360,000 (USD3,200). As for the imported products, the price changes span 10% to 57%. For example, The Macallan 30 Years will see its suggested retail price rise by 57%, from JPY351,360 (USD2,400) to JPY550,000 (USD3, 700). “It has become difficult to maintain existing prices due to increases in production costs and Free On Board (FOB) prices caused by soaring costs of raw ingredients such as grain, materials, and transportation, which cannot be absorbed by the company’s efforts alone.​ “​In addition, the prices of our domestic premium whiskies, such as Hibiki, Yamazaki, ...