NEWS
JAPAN’S SUNTORY TO RAISE BEER PRICES UP TO 10% AFTER 28% PRICE HIKE IN THEIR WHISKIES
By Susan Lewis
27-4-2022
Source: Suntory Holdings
Japan’s Suntory Group announced that retail prices for its beer products will increase from October this year after having raised prices for their whisky brands earlier this month.
The company announced yesterday after market close that retail prices on 162 items, mostly beer products, will rise between 6 to 10 percent from 1 October, reflecting increasing costs for materials, energy and transportation.
Shares in Suntory’s beer-making arm Asahi Group surged 4.3 percent today after the announcement which is the first price increases for their canned beers in 14 years.
Rivals Kirin Holdings and Sapporo Holdings said today they are also considering price increases but have not made a decision yet.
Early this month, Suntory has raised the suggested retail prices of their whisky brands by up to 28 percent.
Announced in December last year, the company said the whisky price increase will allow them to expand capacity and raise quality to meet customer expectations.
The brands affected including premium Yamazaki, Hakushu and Hibiki, as well as a range of imported products including Scotch whiskies the company imported into Japan.
The products affected by this month’s price hike are:
Hibiki 30 Year-Old - 28% Increase
Hibiki 21 Year-Old - 28% Increase
Hibiki Blender's Choice - 20% Increase
Hibiki Japanese Harmony - 10% Increase
Yamazaki 25 Year-Old - 28% Increase
Yamazaki 18 Year-Old - 28% Increase
Yamazaki 12 Year-Old - 21% Increase
Yamazaki No Age Statement - 7% Increase
Hakushu 25 Year-Old - 28% Increase
Hakushu 18 Year-Old - 28% Increase
Hakushu 12 Year-Old - 18% Increase
Hakushu NAS - 7% Increase
Suntory is Japan's leading alcoholic drinks maker which exports a lot of their products as well, their pricing strategy will certianly have knock-on effects in overseas markets.
(the writer can be contacted at: info@thewinechronicle.com)
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