Price will increase on more than 1,800 SAQ products on Sunday
MONTREAL -- The price of several products sold by La Societe des alcools du Quebec (SAQ) is set to increase on Sunday, but the second price increase scheduled for November has been cancelled.
The SAQ says an average increase of 1.8 per cent – or $0.42 – will be applied to 1,828 products in continuous supply, while the price of 926 products will remain stable. There will also be reductions on 44 items, the government corporation says, in addition to the 138 recorded since November.
Among 192 wines in continuous supply offered below the $12 mark, 11 will exceed the threshold as of Sunday.
The SAQ attributes the increased prices to the producers, as well as the fluctuation of the exchange rate between the euro and the U.S. dollar, which it says had a significant impact on products traded with these currencies. The SAQ says an adjustment of duties on alcoholic beverages also had an impact on price variation.
In April, the SAQ postponed its price adjustment on wines and spirits normally scheduled for May due to the economic impacts of the COVID-19 pandemic on several Quebec households. The next permitted upward price adjustment period is scheduled for May 2021.
This report by The Canadian Press was first published Aug. 13, 2020.