Alcohol, Estonia, Latvia, Legislation, Markets and Companies
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Friday, 29.03.2024, 11:35
Latvijas Balzams: alcohol sales on Estonian-Latvian border not expected to grow in 2018
He said that the Estonian government, being aware of the residents' active
shopping trips to Latvia, changed its decision and raised excise tax on alcohol
by half less than originally planned. It means that next year prices of
alcoholic beverages in Latvia and Estonia will not differ as much as in
2017, therefore Latvia should carefully consider further raising the excise tax
rate in 2019.
Geidans said that sales of alcohol in the border area account for 20% of
the whole market and it is a very high indicator. He also said that it is not
possible to predict what next year will bring in the alcohol sector in relation
to the government's indecisiveness and unpredictability in its decisions
regarding regulations of the alcohol market.
Latvijas Balzams in the first nine months of this year posted 55.54 million euros in sales,
up 1.7% from the respective period last year, while the company's profit
declined 7.9% to 4.591 million euros. Shares in Latvijas Balzams are quoted on the Secondary List of the Nasdaq
Riga stock exchange.