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December 17, 2007

Election to boost sale of alcoholic drinks

Despite rising oil prices and the higher cost of living in Thailand, sales of alcoholic drinks were projected to increase during the last quarter of 2007 thanks to the December 23 general election, a report issued by Kasikorn Research Center said.

Besides the Christmas and New Year celebrations, the upcoming general election would help boost sales of alcoholic drinks by about Bt3.8 billion, as canvassers and election candidates were expected to place large orders, the report indicated.

It said strict regulations in place by the Election Commission prohibiting election candidates to spend on campaigns heavily through the media would force them to depend on canvassers and sales of booze would definitely increase.

Citing a report issued by the Bank of Thailand, the report said sales of beer and liquor during the first ten months of 2007 totaled 2.362 billion liters, up 5.4 percent from the corresponding period of 2006.

It said sales during the 2007 10 month period jumped on worries of an increase in excise tax on alcoholic drinks, which had forced traders to buy more and keep stock during the first half of 2007. Sales of  beer and liquor in 2008 were still uncertain, depending on oil prices and people’s purchasing power, the report said.

Also, if the government decided to increase excise tax on alcoholic drinks next year to finance its mega-projects, sales would definitely be affected, the report added.

Courtesy TNA

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