Liquor and beer prices rise in economic crisis

Sri Lankan companies have increased the prices of arrack and beer with immediate effect (today May 3), official sources said.

The new price revision has been made after getting the approval of the Excise Department, a senior official of the department said.

Accordingly Distilleries Co. has increased the price of a bottle of arrack by Rs. 80 while a beer bottle/ can has increased by Rs.10 considering the high taxes (enforced in budget 2022), and costs for transport, raw material and other overhead expenses, he revealed.

He said that in the budget the tax on a 750 ml bottle of special arrack increased by Rs. 96.14 and the tax on other arrack increased by Rs. 103.73 and a 750 ml bottle of foreign wine produced locally increased by Rs. 126.84.

Tax on a 625ml bottle of beer with less than 5 percent alcohol increased by Rs. 3.10 and a bottle of beer more than 5 per cent by Rs. 14.00.

The companies hadn’t increased the price of liquor and beer up to now although the Finance Ministry has increased taxes to a high level expecting an additional revenue of Rs. 25 billion, he pointed out. (Bandula)