UK: "Extraordinary times" lead to Coors price rises
Coors Brewers has blamed "extraordinary times" in the UK beer market for its decision to up wholesale prices in the country later this month.
The UK arm of Molson Coors, which brews the Carling beer brand, said today (1 September) that it has been forced to introduce a wholesale price increase of GBP0.03 per pint across all channels, effective from 29 September.
"We are seeing input cost inflation of a magnitude that could cripple the UK beer industry," said Mark Hunter, chief executive at Coors. "Input costs, such as barley, diesel, metal and energy have risen well above inflation.
"It is no longer tenable to fully absorb the rate of input cost inflation. The severity of inflationary increases we have experienced since the beginning of 2008 has significantly exceeded expectations.
"These are extraordinary times for beer," Hunter concluded. "We will continue to work with our customers to attack costs and create beer value through building great beer brands."
Coors Brewers follows InBev UK in upping prices in the country. InBev said last month that wholesale beer prices for both the on- and off-trade will increase by an average 3.3% from 15 September.
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