Gin enthusiasts beware: your beloved Chrome gin is about to get a lot pricier. Starting July 1, the once-affordable 250ml bottle will skyrocket from Ksh300 to a staggering Ksh770, a jaw-dropping 123% increase. This dramatic spike in price comes as a result of a government initiative outlined in the Finance Bill 2024, aiming to overhaul excise tax calculations for alcoholic beverages.
The proposed method, based on alcohol content measured as Alcohol By Volume (ABV), spells trouble for the spirits market. With 95% of the spirits portfolio facing tax hikes, consumers of the popular 40% ABV variant in the 250ml size brace for an estimated Ksh100 increase per bottle. Local manufacturers, grappling with rising production costs, face additional hurdles as excise duties extend to raw materials, potentially rendering local manufacturing economically unviable. As the industry navigates these challenges, consumers may soon find themselves grappling with the reality of pricier libations and potential market disruptions.
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