HONG KONG, Jan 8 (Reuters) - China Resources Beer (Holdings) Co Ltd said on Monday it has “moderately” raised prices of some of its products in certain regions as higher costs of raw material, packaging materials and labour weighed.
The owner of China’s top beer brand, Snow, said it has adopted various measures, including lean marketing and production as well as product refinement, to absorb the cost pressure. It gave no further details on the price hikes.
Last week, media reported that brewers including Tsingtao Brewery Co Ltd and China Resources Beer, have raised some product prices from Jan. 1 citing rising costs of materials, labour, transportation and for environmental protection.
Tsingtao Brewery, the maker of China’s best known Tsingtao beer, said on Friday that it has raised product prices by up to 5 percent, in a bid to offset pressure from higher costs of production and raw materials. (Reporting by Donny Kwok; Editing by Biju Dwarakanath)