Minimum prices for vodka will increase in Russia from July

Published 2024년 6월 16일

Tridge summary

The Russian Ministry of Finance has announced an increase in the minimum retail prices for vodka, cognac, and brandy, due to factors such as inflation, higher excise tax rates, and increased production costs. The minimum price for a 0.5-liter bottle of vodka will rise from 281 to 299 rubles, for cognac from 517 to 556 rubles, and for brandy from 375 to 403 rubles. The ministry's regular setting of minimum prices since 2009 aims to combat counterfeit goods. The increase will have a larger impact on the brandy and cognac market, due to their higher minimum prices and greater competition for inexpensive products.

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Original content

In particular, the minimum retail price for vodka will increase from 281 to 299 rubles. per bottle 0.5 liters, for cognac - from 517 to 556 rubles, for brandy - from 375 to 403 rubles. Indexation of minimum prices for cognac, brandy, vodka and liqueurs is associated with the level of inflation, an increase in excise tax rates on alcohol with an alcohol content of over 9% (from 613 to 643 rubles per liter of anhydrous ethyl alcohol), as well as an increase in the cost of producing alcoholic products , explained the Ministry of Finance. The department also took into account the increase in the dollar exchange rate, which affected the cost of production, as well as the increase in the cost of logistics services compared to 2022 by 15%. The Ministry of Finance has regularly set minimum prices for alcohol since 2009. In this way, the agency is fighting counterfeit goods on the market. Only vertically integrated holdings that produce it starting from wheat can sell vodka at minimum ...

Source: RG