Apr 27 (Nikkei) - Asahi Breweries will increase prices across the vast majority of its beverage lineup, passing on surging ingredient and packaging costs to customers in a move that could spur rivals to follow suit.
The hikes announced Tuesday, set to take effect Oct. 1, span 162 products including the flagship Asahi Super Dry beer, nonalcoholic drinks, chuhai canned cocktails and domestic whisky. Beer prices on store shelves will rise 6%-10%, while whisky is set to jump 7%-17%.
This marks Asahi's first increase in consumer prices since March 2008, as well as the first hike for commercial customers since March 2018, adding another burden for restaurants and bars still trying to recover from the coronavirus pandemic.
The increases are intended to compensate for rising prices of inputs like barley and aluminum. Parent company Asahi Group Holdings expects costs to jump by 40 billion yen ($312 million) this year.
Japan is set to lower its liquor taxes in 2023 and 2026, which Asahi Group President Atsushi Katsuki has said would boost momentum in the beer market. But the impact of Russia's invasion of Ukraine on commodity prices, along with the yen's recent sharp depreciation, have placed added strain on the industry.
Source: ANNnewsCH
