Prices in Norway’s wine monopoly to rise due to weak krone
The price of nearly 10,000 products in Norway’s state-run wine monopoly will be raised from Friday, September 1st, with the weak Norwegian krone behind the increases.
Norway’s wine monopoly, owned by the government and the only place where alcohol stronger than 4.75 percent can be purchased, will raise the price of 9,725 products on Friday.
“On average, we now get a price increase of five percent. But for the base selection, which makes up 84 percent of sales in stores that reach the most customers, the increase is 2.5 percent,” communications manager, Jens Nordahl, told Norwegian news site Nettavisen.
Prices in the wine monopoly are decided three times a year and are dictated by wholesalers rather than the retailer itself. The changes on September 1st will be higher than typical. The reason for the higher-than-usual rise is the weak Norwegian krone.
“It is common for prices to change, but the change is somewhat greater than usual. It is mainly about a weak Norwegian krone,” Nordahl told business news publication E24.
“In Norway, almost all wine is imported, and with a weak krone, prices rise. At the same time, it is an expensive time in Europe. The prices of almost all input factors used in wine production are increasing. Cardboard, glass, paper and transport have all increased in price,” he added.
According to the website Vinplus, 457 red wines, 342 white wines and 113 sparkling wines will see a price increase of more than 10 percent.
Still, some products will also fall in price. Around 1,500 products will become cheaper.
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Norway’s wine monopoly, owned by the government and the only place where alcohol stronger than 4.75 percent can be purchased, will raise the price of 9,725 products on Friday.
“On average, we now get a price increase of five percent. But for the base selection, which makes up 84 percent of sales in stores that reach the most customers, the increase is 2.5 percent,” communications manager, Jens Nordahl, told Norwegian news site Nettavisen.
Prices in the wine monopoly are decided three times a year and are dictated by wholesalers rather than the retailer itself. The changes on September 1st will be higher than typical. The reason for the higher-than-usual rise is the weak Norwegian krone.
“It is common for prices to change, but the change is somewhat greater than usual. It is mainly about a weak Norwegian krone,” Nordahl told business news publication E24.
“In Norway, almost all wine is imported, and with a weak krone, prices rise. At the same time, it is an expensive time in Europe. The prices of almost all input factors used in wine production are increasing. Cardboard, glass, paper and transport have all increased in price,” he added.
According to the website Vinplus, 457 red wines, 342 white wines and 113 sparkling wines will see a price increase of more than 10 percent.
Still, some products will also fall in price. Around 1,500 products will become cheaper.
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