Tuesday, September 27, 2022

Latest Posts

Sri Lanka’s demand for legal liquor drops by 40 percent

Sri Lanka’s economic crisis has brought down the demand for legally produced liquor by 40 percent shying away the boozers from liquor bars and wine stores in the country at present, Excise Department head divulged.

Commissioner General of Excise M.J Gunasiri said that the demand of liquor has dropped significantly due to unbearable price hike of arrack and other alcoholic beverages by manufacturing companies and present economic hard ships faced by the people.

The daily revenue of the department has dropped by Rs 100 to Rs 150 million as the people cannot afford to buy a widely consumed 750 millilitre bottle of extra special arrack at the price of Rs.2500 an increase of Rs 680 from the previous price he revealed.

Locally manufactured beer containing 450 millilitres also rose by Rs 30 rupees, with the market price at Rs.330.

This was not due to tax hike but owing to massive decline in the buying power of people he pointed out adding that the monthly excise duty paid to the government which used to be approximately Rs 9 billion had reduced to Rs. 5.4 billion.

Liquor manufacturing companies had to make three price revisions recently due to high prices and scarcity of the main ingredient ethanol being produced locally using sugar cane which has impacted by organic fertiliser mania, a senior official of a leading distilleries company said.

Production costs and raw materials as well as other ingredient costs like essence have also increased he pointed out adding that ethanol previously priced at at Rs 500 to 600 has been increased to Rs 1000 to 1500.

Domestic ethanol production has come down drastically due to low harvests of sugar cane and corn as a result of using organic fertiliser for cultivation.

Leading local manufactures have urged the government to enable the importation of ethanol to cater even to the lower demands, as the scarcity of ethanol badly hits the industry.

Mr Gunasiri noted that excise officers are conducting raids to crack down on liquor bars and wine stores selling liquor bottle without stickers with unique code or affixed with false liquors.

He revealed that the department has recently imported 11 million security stickers from, Madras Security Printers Company of India and there was no shortage of stickers at present.

Latest Posts


Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.