Trade Resources Industry Views Russian President Vladimir Putin Has Ordered His Government to Control The Rising Prices

Russian President Vladimir Putin Has Ordered His Government to Control The Rising Prices

Russian President Vladimir Putin has ordered his government to control the rising prices of vodka to avoid consumption of spurious, cheaper liquor.

 Putin Calls for Vodka Price Control Amid Falling Rouble Value in Russia

Reuters quoted Putin as saying: "The overshoot of vodka prices leads only to increasing consumption of bootleg (spirits).

"I think the relevant structures (government bodies) should think of that."

The minimum retail price of half a liter of vodka has been increased by around 30% since last year to Rub220 ($4).

According to a leading university study last year, 25% of men in the country die before reaching their mid-50s, with the prominent reason being the consumption of vodka.

Vodka and beer producers such as Russia's Synergy, Poland's CEDC and Danish brewer Carlsberg have been witnessing tightened rules by the government.

Annual inflation that currently stands at 9.4% is expected to exceed 10% this year.

Russian economy is expected to slide into recession in 2015 due to falling oil prices and Western sanctions over the Ukraine crisis.

Image: The minimum retail price of half a liter of vodka has been increased by around 30% since last year to Rub220 ($4). Photo: courtesy of Th1234.

Source: http://www.drinks-business-review.com/news/putin-calls-for-vodka-price-control-amid-falling-rouble-value-in-russia-261214-4477662
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Putin Calls for Vodka Price Control Amid Falling Rouble Value in Russia