Latvia Braces for Black Market Alcohol Surge
The Latvian alcohol industry is bracing for a surge in black market activity, according to Davis Vitols, Executive Director of the Latvian Alcohol Industry Association. He predicts a growth in popularity of the black alcohol market, driven by several factors.
Vitols anticipates a significant shift towards home-made alcohol. However, specific individuals or groups expected to fuel this growth remain unidentified.
The upcoming excise tax hike on alcoholic beverages in March 2023 is also expected to drive a second wave of increased demand for black market alcohol. This follows a trend observed after the introduction of alcohol sale restrictions on August 1, which led many Latvians to cross the border into Estonia for drinks.
The Latvian alcohol industry faces a potential boom in black market activity, with a predicted increase in home-made alcohol and a second wave of demand expected in March 2023. These developments highlight the need for industry stakeholders to adapt and respond to the changing landscape of alcohol consumption in Latvia.
