Consumers ‘incensed’ by Seybrew price hikes |08 August 2008

From Monday Seychelles Breweries Limited (Seybrew) put between R1 and R4 on most of its products, taking its prices to record heights since it began operating here.

In a series of adverts published in Seychelles Nation this week, the company said the increases are due to escalating costs, which have forced it once again to review its pricing to help meet these costs.

When contacted by Nation directly about the increases, Seybrew declined to comment further.

The increase comes amid other price rises in foodstuffs and essential services, which have reduced consumers’ spending power greatly since early this year.

The latest boost in prices is Seybrew’s fourth in as little as two years, making its products among the most unstable pricewise on the local market.
 
The National Consumers’ Forum (Natcof) reports a record number of phone complaints from consumers since Monday.

Chief executive Jules Hoareau said consumers, notably parents, are incensed by the increase in soft drink prices, saying it will dig a bigger hole in their pockets as they have to buy these products for their children almost daily.

He also said the increase in alcoholic drink prices will play a part in further weakening the spending power of the family unit. Because of the price hikes consumers are bound to spend more, and household budgets will probably suffer.

Mr Hoareau added that it is hard to understand the reasoning behind the company’s decision to put up prices, since it is the only brewery here and faces minimum competition, if any at all.