Gay hiking

Mount Gay prices to rise in 2023

From next year, it could cost Mount Gay rum consumers more to indulge in their products.

Although unable to say how much of a hike rum lovers can expect, Mount Gay Distilleries Ltd managing director Raphaël Grisoni explained that with rising input costs, price increases could be anticipated on local, regional and international rum products in 2023.

“Mount Gay doesn’t act in isolation, we’re just part of a trend. So other brands of all kinds of products will also increase, Grisoni told local media after a tour of the distillery’s new sugar mill in St Lucy on Wednesday August 31.

He went on to explain that a number of logistical challenges were impacting the distillery, especially since a large number of inputs for production had to be imported. However, Grisoni said the company would try to absorb “the maximum” but some increases would have to be passed on to consumers.

At the time of the press interview, the Mount Gay manager could not provide details on what price hike consumers can expect, but confirmed that it will eventually take effect.

“I don’t have any numbers at the moment, but what we are doing is trying to absorb as much as possible, but you can be sure that with the trend we are seeing at the moment, we will definitely have to increase our award next year. There is no doubt about that,” he said.

Responding to a question posed about how the distillery was tackling the many challenges amid rising oil prices and global supply chain disruptions, Grisoni praised the company for its adaptability and excellence in the forecasts.

“Our secret so far has been the agility of our people and our forecasting, but unfortunately consumers are going to be impacted down the line. [because of] inflation of all commodities [and] inflation on the logistics cost which is huge. We support it and try as much as we can when exporting to our key markets [not] to pass on this price increase,” he said.

However, in the event of a drop in local consumption, the rum manufacturer was about to fall back on its exports because it was “diversifying” its risk by trying to export to many countries so that the “risk was thus diluted” .

“You must buy your necessary goods like food, efficiently [affecting] the share allocated to what is not necessary, and if rum is not necessary in your life, it will probably have an impact in terms of consumption. This is why exporting is so important and the diversification of the countries we export to,” Grisoni said.

The managing director answered questions following a tour of a new sugar mill and rum aging bond being built at St Lucy’s distillery. The visit was attended by Minister for Industry, Innovation, Science and Technology Davidson Ishmael, Minister for Tourism, Senator Lisa Cummins and St Lucy’s Parliamentary Representative Peter Philips.