The retail distribution sector has confirmed that price rises ranging from 5 percent to 10 percent for powdered milk and alcohol products have come into effect this month.
According to retail distributors, a 1.6kg tin of Nestle powdered milk and Klim instant milk has already risen from NT$460 (US$15) to NT$480, whereas a 1.5kg tin of Klim’s Omega powdered milk has gone up from NT$560 to NT$600.
The price of Abbot-brand baby milk powder has risen by 10 percent. Although the price of the firm’s milk power for toddlers and young children has remained the same, product volumes have been cut by 50g and 150g respectively.
The price of Quaker-brand milk powder for babies and young children has increased by between 4 percent and 6 percent this month, while other milk powder companies are considering following suit.
Retail distributors say that the price of instant coffee has also increased.
Nestle’s 42-pack 3-in-1 instant coffee has gone up from NT$195 to NT$209, whereas Maxwell and other instant coffee brands are waiting to see whether the price increase impacts demand before deciding whether to increase their prices.
Retail distributors that import alcohol also said prices have gone up.
Remy Martin’s Taiwanese branch marketing director Ivan Chang (張德武) said that as of Sunday, the price of a bottle of VSOP aged for a minimum of four years, went up by 10 percent, or about NT$120, and is now selling for about NT$1,380.
The price of a bottle of XO aged in a cask for a minimum of 10 years has increased by 20 percent, from NT$3,680 to NT$4,380, Chang said.
A bottle of Louis XIII, a cognac manufactured using grapes from the Grande Champagne territory of Cognac, France, increased by 17 percent and now sells for NT$88,000.
The price of brandy sold in Taiwan was originally lower than in other Asian markets, and so the company decided to raise prices, Chang said.
Hennessy also raised prices by about 10 percent in February, retail distributors said.
Translated by Jake Chung, Staff Writer