CZECH: Budejovicky Budvar to hike beer prices

By | 30 November 2007

Budejovicky Budvar is the latest brewer to announce price rises for its beers as commodity cost pressures make their presence felt.

The Czech brewer is reportedly set to increase its prices by between 4% and 6% next month, according to a report by Czech News Digest earlier this week. The news agency cited a company spokesperson as saying that the rise comes on the back of higher malt, hops, energy and transportation costs.

The price of hops has climbed by 15%, while malt has risen by 44%, the agency cited the spokesperson as saying, although no time frame was cited for the increases.

The price of dark and light bottled 12-degree beers will grow by CZK1 (US$0.056) to CZK17.9, while that of draught 10-degree beer will go up by CZK0.6 to CZK11.5.

The state-owned brewer has been the subject of sale speculation for a few months, with the latest local reports in October claiming that authorities in the country are set to issue a tender for a law firm to look at legally changing Budvar from a state-owned brewer to a joint-stock company. The move pre-empts the step towards privatising the company, reports have claimed.

Sectors: Beer & cider

Companies: Budvar

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