World: Beer price hikes expected due to most expensive aluminium costs in 13 years
Grabbing a cold one will require some extra coins as beer price hikes are coming, thanks partly to the most expensive aluminium costs in 13 years, The Brussels Times reported on February 8.
Aluminium appears in countless products, ranging from airline fuselages to cooking foil. Increases in aluminium prices mean the consumer goods using this element are also likely to become more expensive.
On February 8 in London, the price of aluminium was $3,236 per tonne – the highest price since 2008. By comparison, the price per tonne in January 2021 was $2,004, according to market research firm IndexBox.
Aluminium prices are increasing with supply unable keep up with demand. China, a major producer of aluminium, is now scaling back its production as a way of fighting carbon dioxide pollution, IndexBox reports.
Beer costs are especially susceptible to fluctuations in aluminium prices because of how brewers transport the beverage to consumers – in cans. Therefore, as aluminium costs increase, so does the cost of packaging.
Earlier this week, Carlsberg Group announced that its beer prices were increasing in response to the rise in production costs. Carlsberg is the world’s third-largest brewer.
Anheuser-Busch InBev – the world’s largest brewer – previously announced price hikes for its products because of increased production costs. The beer giant owns 630 brands, including Stella-Artois, Budweiser, Leffe, Becks, Jupiler, Victoria and Cass.
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