TAIPEI (New Taipei City)—Taiwan Tobacco and Liquor (TTL) has raised prices for six types of liquor including three types of shaoxing wine, yellow wine, Chinese wine and dragon phoenix wine (龍鳳酒) by NT$10 to NT$40 (US$0.33 to US$1.33) .
TTL confirmed the company adjusted liquor prices for the first time in 15 years, and the adjustments were needed to ensure "reasonable profits."
Sales of the six types of liquor amounted to less than 1 percent of total alcohol sales, said the company.
Shaoxing wine prices rose from NT$160 to NT$175, mature shaoxing wine inched up from NT$180 per bottle to NT$200, and premium shaoxing wine prices were up from NT$250 to NT$290, according to data compiled by distributors.
Yellow wine prices also rose from NT$150 to NT$165, meanwhile Chinese wine rose from NT$200 to NT$230, while dragon phoenix wine increased from NT$140 to NT$150.
The company declined future price hike plans, such as for beer, red wine, or Kaoliang.
The price hikes have been effective since May 31, 2017, but some products sold at convenience stores were using the old retail price.
TTL explained retailers clearing their inventory might be using the old price tags, before using the new retail price to sell the latest liquors.