Soft drink prices in Grenada are expected to escalate from Tuesday.
Well-place sources told THE NEW TODAY newspaper that the Customs Department has received instructions to implement a new tax regime on all soft drinks imported into the country from Tuesday March 15th.
A source who asked not to be named said that the duties on soft drinks imported from the United States will move from 20% to 100% and those coming in from Trinidad & Tobago will now attract duties of 70%.
He sated that the new charges will affect in particular those Grenadian traffickers who bring in soft drinks on a weekly basis from neighbouring Trinidad & Tobago.
The source said that based on the proposed increase in duties from Customs, it is more than likely that one canned beverage drink will move from around $3.00 to $7.00 retail.
Speculation is rife that the move is aimed at offering protection to local producers of soft drinks.
THE NEW TODAY was not able to reach Comptroller of Customs, Carl Felix for comment on the issue.