Quebec alcohol prices are going up -- with one exception
Quebec's liquor board, the SAQ, will be raising its prices in May. Wines priced at $15 or less will not go up in price.
SAQ president and CEO Jacques Farcy made the announcement at a press conference in Montreal on Monday, accompanied by CFO Édith Filion, who said it will be increasing its mark-up.
"The mark-up represents the corporation's gross margin, after paying the supplier for the bottle," explained Filion.
Farcy explained that this "moderate adjustment" to the mark-up was necessary due to the SAQ's rising operating costs.
The executive pointed out that the SAQ had adjusted its mark-up downwards since 2017.
"For example, for a $25 wine, the markup adjustment will represent a 0.6 per cent increase, and the increase will be the same for a $45 spirit," Farcy explained.
The SAQ will also offer greater flexibility to suppliers on when they can request a price increase. They will not be able to make the request more than twice a year.
- This report by The Canadian Press was first published in French Feb. 12, 2024.
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