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MEXICO: Modelo increases domestic beer prices

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Grupo Modelo has raised beer prices in its home country. The Mexican brewer announced yesterday that it had upped prices by around 4% in some regions of Mexico. The company would not disclose where it had raised prices but said that no more increases were planned for 2004.

It was the brewer's first domestic price increase in two years, and comes at a time when the country's economic growth looks set for an upturn after a sluggish 24 months.

Modelo's main domestic competitor, Fomento Economico Mexicano SA (Femsa) has not announced a similar price rise, but is believed to be evaluating the possibility of upping its beer prices in Mexico this year.

Modelo and Femsa roughly split the Mexican beer market between them, with Modelo taking just over half of domestic sales.


Sectors: Beer & cider

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