Tsingtao Brewery Co, the Chinese beer producer partly owned by Anheuser-Busch Cos, said it may raise the prices of some of its premium beverages as higher material costs have eroded its profit margin.
The brewery industry faces higher production costs caused by higher prices for electricity and barley, said Jin Zhiguo, president of the beer producer based in eastern Shandong Province. "We are in the winter of our industry," Jin said yesterday. "The growth in production has slowed."
(Shanghai Daily August 7, 2008)
