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State-run Ukrspyrt enterprise, which has a monopoly on ethyl alcohol production, in January 2017 raised prices of all products containing alcohol, by 10.6%, and a further 8% increase is scheduled for March 2017 in connection with growth of production costs.
The previous time when the company raised its prices was in April 2016, when they grew by 17-18%, but since then, raw materials have gone up in price by 14%, while fuel prices and power rates have increased by almost 24%, the company said on its website.
Read alsoVodka in Ukraine to cost at least $2.8 per bottle in AprilAs UNIAN reported, Ukrspyrt in 2015 produced 9.4 million decaliters of ethyl alcohol, which was 21% down on 2014. The enterprise posted UAH 16 million in 2015 net profit against UAH 532.2 million in net losses in 2014.
UNIAN's memo. The Cabinet of Ministers in July 2010 decided to create state-run Ukrspyrt on the basis of a concern with the same name. It has to incorporate 76 distilleries, however, only 41 distilleries have been transferred to it so far. The Ukrainian government insists on its privatization.