Trinidad and Tobago: Carib Brewery reveals significant increase in prices due to 100% excise duty hike

Carib Brewery revealed on October 16 a significant increase in prices of several popular beverages, including Carib, Stag and Guinness, following the government’s 100 per cent hike in excise duties on alcoholic drinks announced in the 2026 budget, the Newsday reported on October 16.

Effective immediately, the company’s new price list shows a suggested retail price of $13 per bottle for Carib, Stag and Pilsner, up from $10-$11 previously.

Stouts such as Royal Extra Stout now retail for $15, while Guinness and Heineken have both moved to $22 per bottle.

Non-alcoholic products Malta and Shandy have increased to $10. There are no price changes for Smirnoff Ice, Caribe Hard Cider, Vitamalt, Ginseng-Up, Smalta, Heineken 0.0, and Rockstone Tonic Wine.

The increases are tied to Legal Notice No 376, which doubled the excise duty on alcoholic beverages from $5.14 to $10.28 per litre.

That change took immediate effect on locally produced alcohol – including Carib Brewery’s products – as excise duties are payable when goods leave bonded warehouses for sale.

Imported products will face similar increases later, pending review by the Solicitor General’s office.

In a statement on the increase, Carib Brewery said the adjustment was a "responsible and measured response" to the government’s move.

"While this change affects some of our beverages, we have worked diligently to keep prices as low as possible, and are only adjusting prices where absolutely necessary," the company said.

Carib said it had sought to balance economic realities with consumer affordability, saying it would continue to invest in its people, brands and infrastructure while maintaining product quality.

The announcement came after bar owners reported that Carib had temporarily paused deliveries earlier in the week to recalculate costs.

The Bar Owners Association said members were awaiting new price lists before confirming retail adjustments.

Association president Satesh Moonasar told Newsday the 100 per cent rise in excise duty would likely have to be passed on to customers, as most bar operators could not absorb the full increase.

"If the companies don’t absorb some of it for us, the bar owners will have no other choice but to pass it on to the customer," he said.

Finance Minister Davendranath Tancoo, during his October 13 budget presentation, said the increases were part of a broader effort to raise revenue after years without adjustment.

"As hard as it may be, we’re asking those who can to play a greater role," he said.

"When you disaggregate the figures, the impact on the individual bottle of beer, for example, is very small."