Wine prices in Ukraine to rise by 50% by the end of this year

Wine prices in Ukraine will increase by 50% in wholesale and retail trade by the end of this year. Such measures are dictated by rising energy prices and general inflation, Channel 24 reports. As explained by the head of the Verkhovna Rada Committee on Agrarian and Land Policy, Oleksandr Gaidu, the parliament recently supported the law on raising taxes. The initiators expect that this will bring about 2 billion hryvnia ($48.5 million) to the state budget. According to the deputy, wine products have become more expensive due to rising energy prices, higher wages and general inflation. Wine prices need to be raised to a level that covers production costs. In addition, he emphasized that the viticulture sector needs support; such measures should stimulate new investments in the sector. The Ukrainian parliament believes that such a price increase will help combat the shadow alcohol market and increase revenues to the state budget. Earlier, Channel 24 reported on its website that, ...