Rum lovers will now have to dig deeper into their pockets. Like the proverbial thief in the night, Angostura Ltd–local distillers of White Oak, Black Label, Forres Park and Royal Oak, core rums–increased prices by approximately 12 per cent last week. AS Bryden and Sons Ltd, agent for El Dorado Rum jacked up its price between 17 and 18 per cent on Wednesday.
Yesterday, Carib Brewery Ltd managing director Derek Waddell confirmed that the popular dry stout, Guinness, increased from $163 to $183 per case a few days ago, due to the "increase of royalties and hops." The retail cost of a Guinness is now between $14 and $15.
But while Waddell validated the increase of one alcoholic beverage, some drinkers complained yesterday that the retail prices of Carib and Stag had jumped from $9 to $10 at watering holes from Thursday. Mackeson and Royal Extra also moved from $13 to $14 a bottle.
Waddell said he had no idea why pub owners were increasing the prices of the other alcoholic drinks. "There is absolutely no reason that they should be."
No increases coming from Carib
Waddell said Carib Brewery has no intention of increasing its line of alcoholic beverages as the Christmas season approaches. Meanwhile, Jose Nivet, sector head, distribution and executive chairman of Alstons Marketing Company Limited, also gave the assurance that it would not increase the prices of its Bacardi and Appleton Estate rums. The price adjustments come 14 months after then finance minister, Karen Tesheira announced in the 2010 budget presentation, a 15 per cent increase in the excise duty on locally manufactured beer, rum and alcohol products.
Andrew Chang, manager of Chang Brothers Liquor Store and Supermarket in Marabella, said the retail price of a case of White Oak and Black Label rums jumped from $858 to $965 last week. The suggested price for a 750ml bottle is $89.99. Chang said the highly consumed Forres Park puncheon rum has skyrocketed from $1,125 to $1,286. A bottle now costs $119.99. The popular Royal Oak rum has risen from $1,052 to $1,186 per case. Chang said the suggested price is $109 a bottle.
El Dorado rum, manufactured in Jamaica, will now cost roughly between $65 and $70 a bottle, as opposed to the $55 to $60 rum lovers used to pay, AS Bryden group product manager Jason Charles said.
Laronde-West: Increase in cost of raw materials
On Thursday, Giselle Laronde-West, public relations manager of Angostura, blamed the 12 per cent increase on the significant changes in the cost of raw materials, mainly molasses, the main element of the rum making process. The price of molasses, which is sourced outside of T&T, went up by 35 per cent, Laronde-West explained.
"We no longer get molasses in Trinidad," she revealed. Asked what has been the response from customers and buyers Laronde-West said: "We have not had any issues."
Last November, Angostura increased some of its spirits by just over six per cent because of changes in production costs. Charles said AS Bryden has been informing customers for a while of the price increase for El Dorado rum. "We have not increased our prices in two years."
Charles could not say if the increase will have a negative effect on sales. "We would just have to wait and see." Charles shied away from saying if the premier Johnny Walker scotch will increase before Christmas. "I can't answer that for sure," he added. Charles admitted, however, that when the price of one type of alcoholic beverage goes up the others are likely to follow. "Yes, this happens sometimes. If there is going to be an increase in other spirits it won't be significant."
Alcohol prices
�2 White Oak and Black Label $965 per case/bottle $89.99
�2 Forres Park Puncheon $1286 per case/ bottle $119
�2 Royal Oak $1186 case/bottle $109.99
�2 El Dorado rum $65-$70 bottle
�2 Guinness $183 case/$14 to $15 a bottle.
Drinkers unfazed... it's a necessity
Clutching a bottle of Forres Park rum at Ryan's Bar, Prince Street, Port-of-Spain yesterday, Nehru Rampersad said the new prices will not stop him from consuming his liquor. "I love meh rum. I used to pay $12 for a shot of puncheon, now I paying $13. That is something? "Drinking is now a necessity for some people. You can't stop people from taking a drink after a hard day's work to relieve stress."
Murchison Mendoza said he was taken by surprise with the new prices, arguing that the public was always the last to know. "But all in all, people will cry about the prices but at the end of the day that ain't stopping them from hitting the bottle."