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Taiwan Beer price to rise as cost of barley increases

Local beer prices may rise by NT$2 to NT$3 per bottle due to higher barley prices, an executive of the state-controlled Taiwan Tobacco and Liquor Corp (台灣菸酒公司) said yesterday.

Raw material costs for the production of Taiwan Tobacco's star product, Taiwan Beer, have risen by NT$1.21 per 600cc bottle, while those for Gold Medal Taiwan Beer (金牌台灣啤酒) have climbed by NT$0.91, Lin Tzaon-feng (林讚峰) told reporters on the sidelines of a ceremony to launch its new drink, Taiwan Beer Light (青睞).

The new prices for the company's beer products, which now sell for between NT$45 and NT$55 per bottle, will be finalized when the company's old barley stockpile comes to an end in "approximately a month," Lin said.

Taiwan Beer and Gold Medal Taiwan Beer command about 55 percent and 21 percent respectively of the local market, Lin said, adding that the company hoped to take another 2 percent market share with sales of the newly launched Taiwan Beer Light, or NT$400 million by the end of this year.

new product

The light beer, priced at NT$34 per 330cc can, will target women and the younger generation, who may find typical beer too bitter, Lin said.

A total of 240,000 cans had been sold in the past three days, he said, adding that the company expects sales to double after its sales channels are set.

A slower economy and cold weather affected Taiwan Tobacco's beer sales last month, which dropped 27 percent from a year ago.

Despite a 2 percent annual drop in sales last year, the company remained the biggest local brand, commanding NT$28 billion in revenue out of a total market value of NT$30 billion.
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