Saturday, February 24, 2007
Heineken Hiking Prices
There is further confirmation that we will soon all be paying a bit more for our brew. Dutch brewing conglomerate Heineken says rising costs for everything from barley to aluminum will require price hikes to consumers.
Heineken said aluminum, energy costs and a poor Australian barley harvest, coupled with increased competition for agricultural products, are driving up the price of beer. The company said the emergence of the biofuels industry, and the growing demand for barley in China and other Asian markets are putting a squeeze on the world supply.
Heineken reported profits last year of $15.8 billion.