E-Malt. E-Malt.com News article: Bahamas: Bahamians quite willing to spend considerably on imported beer

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E-Malt.com News article: Bahamas: Bahamians quite willing to spend considerably on imported beer
Brewery news

The Bahamas is one of the few global markets that pay a 50 per cent or greater premium on its beer imports, CARICOM's Office of Trade Negotiations communicated earlier this week.

The nationís spending on imported beer grew by an average 5 per cent between 2002 and 2007, CARICOM's research revealed.

Nations on average spend $921 per tonne on beer imports in 2007, yet the Bahamas spend was 55 per cent above this level at $1,431 per tonne, the researchers found out.

"In 2007, markets that paid a premium price (over 70 per cent above the global average unit value) for beer products included Canada ($1,667 per tonne), Spain ($5,011 per tonne), Sweden ($1,613 per tonne), Japan ($1,568 per tonne), Brunei ($1,550 per tonne) and the Bahamas ($1,431 per tonne)," the research paper said.

No explanation as to why the Bahamas' imported beer costs were so high was provided, although a likely explanation is likely to be the import duties/Stamp Tax imposed on their entrance at this nation's borders. The most popular imports are Budweiser and Bud Light.

Still, Bahamian beer drinkers can take comfort from the fact that most of their favourite brands, namely Guinness, Heineken and Kalik, are brewed at home by Commonwealth Brewery, while Sands beer is manufactured on Grand Bahama.

Nevertheless, the Bahamas was the second greatest importer of beer in the CARICOM region during 2007, its $4.7 million spend standing behind just the $5 million outlay of Barbados.

And between 2003 and 2007, the Bahamas was among "the most dynamic importers" of beer in the region, its annual growth in spending increasing by an average of 5 per cent.


10 March, 2010

   
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