TAIPEI (Taiwan News) — Kinmen Kaoliang Liquor Inc (KKL) on Tuesday (March 2) announced 6-12 percent price hikes for most of its liquor products effective immediately, prompting some regional dealers and wholesalers to express discontent, CNA reported.
The report said that the average price increase across product lines is about 10 percent.
The company said in a press release that it had not raised prices for most of its staple liquor products since February of 2012, but during the nine-year period since, the costs for various ingredients and packaging materials have gone up dramatically. The production costs were made even more expensive after the Labor Standards Act required the company to give two days off weekly to employees, KKL said.
The price hike, which is effective from March 2, is a reflection of the cost increase, the company added.
The news of the price hikes for the celebrated liquor brand’s various products came as an unwelcome surprise to some of the company’s regional dealers on the first day of work after the three-day 228 Peace Memorial Day holiday, with some saying the increases were too high and questioning if they were proportional to the increases in production costs, per CNA.
As the number one liquor brand in Taiwan, KKL won a total of 18 gold medals from three international liquor competitions in 2019 — the San Francisco World Spirits Competition, the Monde Selection, and the Ultimate Spirits Challenge.