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Ukraine's Finance Ministry supported motion to increase minimum alcohol prices

Ukraine's Finance Ministry supported motion to increase minimum alcohol pricesUkraine's Finance Ministry following the Economic Development and Trade Ministry has proposed to increase minimum prices of alcohol to the medium level seen on the market of legal producers, wholesale and retail companies.

"The current minimum prices have stopped playing its safeguard role to protect from sales of counterfeit products and this affected health of the population," the ministry said.

The ministry believes that this step would result in a large reduction of profit margins of shadow alcohol producers and Ukrainian citizens would buy alcohol of higher quality.

The ministry said that current minimum prices do not meet the real expenses of economic entities on production and sales of alcohol, as the price of spirit and the excise duties grew after the minimum prices were set.

According to a draft resolution posted on the ministry's website, the ministry proposed that minimum retail and wholesale prices of vodka are increased by 24%, to UAH 340.57 and UAH 218.32 per 100% ABV, as the economy ministry also proposed.

In contract to the economy ministry that retains the differentiation of minimum prices of cognac depending on stars, the Finance Ministry proposed introducing the common minimum prices. The wholesale price of cognac could be increased to UAH 313.78 per litre of 100% ABV, the retail price – to UAH 489.50 per litre, while today the minimum retail prices vary from UAH 420-450 to UAH 599.50.

The minimum retail prices of wine could be increased by 22%, to UAH 33 per 0.7-liter bottle, the prices of vermouths – by 44%, to UAH 39 per 1-liter bottle, and the prices of sparkling wine – by 55.7%, to UAH 69.90 per 0.7-liter bottle.
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