Price Increase for Bowen and Bowen Soft Drinks Hits Consumers
If you’re an avid drinker of soda, you may have noticed this week that the price of has gone up for some of those produced by Bowen and Bowen. Rosanna Villanueva, Corporate Relations Manager, Bowen and Bowen, confirmed that price changes for the one liter in glass and the one and a half liter in plastic bottles took effect on Thursday. She said that this is the first price increase for soft drinks in years as the company has strived to keep price increases for soft drinks few and far in between.
Rosanna Villanueva, Corporate Relations Manager, Bowen and Bowen: “There have been increases on two of the products in our beverage portfolio. You’d know that we have a wide variety of beverages in our portfolio and the vast majority of them have maintained the same price for six to seven years actually. In fact our twelve ounce Coca Cola is still sold at a dollar that’s the price it had in 2010 which was thirteen years ago. So we always do our best to keep our consumers and our customers in mind which is why we don’t raise prices frequently it’s something that does not happen often. In fact the only time we’ve had a portfolio wide increase was in 2017 when government increases excise tax. I guess you will know that Belize has the highest excise tax in the region right ? The excise tax on soft drinks in Belize is about I think about 300% what is is in Mexico for example so that was the reason for the increase at that time. The increase that we are looking at now is only two produces out of our entire portfolio so it’s two out of over fifteen products and that would be the half litre in glass and the one and a half litre soft drinks in plastic.”
Villanueva said that various external factors are responsible for the price increases for those particular products.
Rosanna Villanueva, Corporate Relations Manager, Bowen and Bowen: “Well for the consumer in the store they will see the half litre glass go from $1.25 to $1.50 and the one and a half litre plastic soft drink is going from $4.50 to $4.85 so it’s jus those two products out of our entire portfolio. You know we are facing some changes in production, material, logistic costs associated with these two products and that has made the price increases necessary. You know again we want to stress that it’s just on these two products so consumers can expect that the other products that they love will remain at the same price. I can say that we don’t have any increases planned at this time.”
She added that the company has received reports of various retailers charging more than its recommended retail price for some of its products, but the company has no control over how these retailers price their goods. Data from the Statistical Institute of Belize shows that for the first quarter of 2023, soft drink production was up by over thirty-six percent. The SIB attributed the increase to a rise in demand locally as well as an increase in the number of tourists entering the country.