Kweichow Moutai has raised the prices of its flagship Baijiu drinks by 20 percent for the first time in six years.
The Chinese liquor giant increased the factory-gate prices of the signature alcoholic drinks – the high-alcohol content sorghum-based liquor of choice for banquets among government officials and businessmen in the country – from 969 yuan (HK$1,036) to 1,169 yuan. The decision came after repeated calls to do so from investors and exceeds the average 18 percent hike the company announced across its product line six years ago.
Recommended retail prices for its liquor range will remain the same at 1,499 yuan, though the market price of such drinks may double from the guide price. The wide gap between the company’s ex-factory prices and recommended retail prices has been seen as creating opportunities for corruption.
The post Little cheer as Moutai raises prices 20pc appeared first on Hong Kong News Hub.
from
https://hongkongnewshk.com/little-cheer-as-moutai-raises-prices-20pc/
No comments:
Post a Comment