CONSUMERS of spirits produced and/or distributed by Red Stripe will have to dig deeper into their pockets to imbibe.

That as Red Stripe, which is part of the Heineken Group, has hiked the price on most of its spirit brands.

While the company has confirmed the increase, which was imposed late last month, it is declining to state the quantum. However, the Jamaica Observer has obtained the new price schedule, which details the increases, ranging from a low of seven per cent to a high of 150 per cent on one product.

Based on the new price schedule it was observed that some of the low-keyed brands such as Injin both 200ml and 750ml as well as Smirnoff Vodka 5CL and Smirnoff Black OYR one litre will remain as is. The price of Johnnie Walker Red Label CL, Johnnie Walker White Walker 750ml, Tres Magueyes Blanco Tequila and Tres Magueyes Reposado Tequila also remain unchanged.

All other popular brands such as Smirnoff Vodka, Smirnoff Apple Voda, Smirnoff Green Apple Smirnoff, Smirnoff Red Vodka, Ciroc, Johnnie Walker, Baileys, DG Sorrel Flav Rum Liquer, D&G Rum, Gordon’s Dry Gin 750ml and Gilbey Gin 43 per cent 1l have seen a price increase. Red Stripe last increased the price on their spirit portfolio back in January 2021.

When contacted by the Business Observer, Red Stripe explained that it had no option but to adjust prices at this time. Head of commercial at Red Stripe Sean Wallace explained, “Increases in input costs on both imported and locally produced spirits have regrettably led to the recent price increases.”

Asked the extent to which the depreciation of the local currency played a role in the recent price increase, Wallace replied saying, “It’s hard to isolate the specific impact of depreciation in the increase in input costs; however, devaluation will always play a role in products such as ours which are either imported as finished product or produced using imported raw materials.”

The Business Observer sought to gauge Red Stripe about the competitiveness of its spirit portfolio given this latest increase. Wallace indicated that this is continuously on the radar.

According to him, Red Stripe ”continuously reviews the price competitiveness of our products within the Jamaican market, taking into consideration our esteemed competitors and of course the projected impact on our valued customers and consumers”.

The impact of the increase is expected to be felt in the coming days, as wholesalers and retailers adjust their prices based on new orders being made. Red Stripe has not indicated any recommended retail price for its spirit portfolio.