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Alcohol imports rise in lead-up to Tet
The import of beer and alcoholic beverages is likely to spike in the lead-up to Tet, the HCM City customs department said.
With less than a month to go for the Lunar New Year, imported liquor and beer are overflowing in supermarkets and shops who said people still have a predilection for foreign brands.
Khanh Sang, an owner of a shop in Nguyen Thong Street, District 3, said imported liquors priced at VND500,000-VND1 million (US$25-50) are very popular.
But those costing above VND2 million ($100), even up to VND10 million ($500), are also in demand.
The Coop.Mart supermarket chain is selling a range of products at VND200,000 ($10) to VND7 million ($350).
The imported products have fancy designs and come with plenty of freebies.
Dao Quang Vinh, a liquor importer and distributor, said this month he has double his import to 6,000 bottles.
Imported beers like Leffe, Corona, Asahi, and Bitburger dominate the market despite costing tens of thousands of dong compared to VND7,000-VND20,000 ($0.35-1) for domestic products.
For instance, Leffe from Belgium costs VND65,000 ($3.25), Germany's OEI Stinger costs VND30,000 ($1.5).
Pham Dinh, a beer distributor in District 10, said 30 to 40 different imported beers are now available.
Liquors and beers are imported despite high taxes. Most beers attract an import tariff of 47 per cent and VAT of 10 per cent.
Besides the VAT, liquors and wines face tariffs and special consumption tax of up 45 per cent depending on their alcohol content.
Those with below 20 per cent are taxed at 25 per cent.
The importers said retail prices will jump by 10-15 per cent this year, mainly due to the higher value of the dollar.
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