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Saturday, May 25, 2024
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Chandigarh: Wine makers seek inflation-based pricing index

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Members of the International Spirits and Wines Association of India (ISWAI), an apex body of the alcobev sector, on Monday raised concerns with the UT excise department over the rising prices of all direct input materials used in liquor manufacturing industry and demanded to establish an inflation-based pricing index for alcobev industry.

In the presentation given to the UT excise department, ISWAI presented a brief data on soaring prices of input cost materials and highlighted that the materials used for liquor manufacturing has increased.

Given the double-digit inflation that is prevailing in all direct input materials, they stated that only a meagre 2% supplier price increase was accorded to the industry only once in the last four-five years, which is insufficient.

Nita Kapoor, CEO, ISWAI, said, “There has been a double-digit increase in cost of inputs in the last four years with no price increase since 2021, even though the Chandigarh excise policy has instituted a 4% supplier price increase every year. ISWAI estimates an increase in input costs of about 20-25% has been borne by the alcobev suppliers on account of the runway inflation across the globe and seeks an immediate relief of around 8-10% in the supplier price as the key ask from the UT administration.” Suggesting a viable win-win solution, Kapoor stated, “The most crucial reform that the industry needs is having an inflation-based index that links the product sale price to fluctuating cost of inputs, which will be fair to consumers and manufacturers alike. Clearly, the sector directly needs a policy rehaul.”

Aabkari Times Editorial Teamhttps://aabkaritimes.com
Aabkari Times is a monthly news magazine on Liquor, Excise and Alcohol allied industry; being published since 2009 by the expertise of retired excise dept. associates and alco-bev industry professionals as our editorial team. Our magazine contains different new alco-bev strategic and new brand launch articles as well as news on recent govt. policies, trends on alcohol industry and other important data relevant to the distilleries and industry at the mass.

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