The end of dry January will coincide with big jumps in the price of wine and spirits as higher tax rates kick in, drinkers were warned today.
The wine and spirits industry in the United States could face significant economic challenges if a proposed 25% tariff on Mexican-origin products is implemented, according to a report by John Dunham and Associates, released by the Wine and Spirits Wholesalers of America (WSWA).
The Treasury has lost 500,000 (US$607,000) a day in revenue since the double-digit hike on spirits tax in the UK.
Shares of Asian liquor and beer makers declined after the US Surgeon General outlined a direct link between alcohol consumption and heightened cancer risk, and called for warning labels.
Click to read article
Mexico has found itself struggling in a massive liquor crisis and US President-elect Donald Trump's tariff threats are only making the situation worse.
It seems that the new round of tariffs that Donald Trump has threatened to impose on imported goods is already getting some blowback from foreign leaders.
Belgian trade organisation SpiritsEurope has announced "Objective 2030," a roadmap for an open EU trade policy aimed at addressing challenges and sustaining growth for the European spirits sector following a 7% drop in EU spirits exports last year.
For the past decade, there has been increasing concern over the use of methanol in alcoholic drinks in some Southeast Asian countries.
Ethanol is the compound that makes drinks alcoholic, but because methanol is indistinguishable in taste, it is often illegally used as a cheaper alternative.
The UK's ailing hospitality sector is showing modest signs of recovery, with the number of licensed premises increasing for a second successive quarter and 661 net new openings in the third quarter of 2024.
On 23 October 2024, the Supreme Court upheld state governments' power to regulate industrial alcohol in an 8:1 majority.
The Court delivered two opinions in the case. CJI D.Y. Chandrachud wrote the decision on behalf of seven brother judges. Justice B.V. Nagarathna dissented.