Ochakovo froze investments due to the excise tax on sweet soda
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The Moscow beer and non-alcoholic plant Ochakovo has decided to postpone investments planned for 2023-2024 to increase production capacity due to the introduction of an excise tax on sugar-containing drinks. This was reported by RIA Novosti with reference to the general director of Ochakovo Yuri Antonov.
“We planned to increase production at existing production facilities by re-equipping with more efficient equipment, launching new bottling lines. Now we have informed our contractors for the supply of equipment that we are postponing the implementation of our plans until the status of this bill is determined,” said Mr. Antonov.
According to him, the introduction of an excise tax could lead to a reduction in the production of beverages by at least 20%, jobs – by 25%. The vacated niche will be occupied by the production of drinks with controversial sweeteners, the import of soft drinks from the EAEU countries, and Russian production will be in obviously losing conditions, the general director of Ochakovo believes.
Yuri Antonov noted that instead of additional revenues, the Russian budget may suffer direct losses, and domestic producers will lose momentum for development.
State Duma accepted in the first reading the bill on the excise tax in the amount of 7 RUB. per liter for sweet drinks on 18 October. Fermented drinks, kvass with an ethyl alcohol content of 0.5% to 1.2% inclusive, juices, nectars, juice drinks and fruit drinks will not fall under the excise tax. Drinks manufacturer Chernogolovka intends to reduce investments by 5 billion rubles in connection with the introduction of the tax. According to Kommersant FM, after the introduction of the excise tax, products may rise in price by 20%.
Details – in the material “Kommersant” “The excise shook Chernogolovka”.
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