Here’s why Columbia International stopped producing ‘My Juice’
Columbia International Food Products Inc., one of the country’s biggest candy manufacturers, had stopped producing its juice brand on the weight of higher tax imposed by the Tax Reform for Acceleration and Inclusion (TRAIN) law.
Company president Reynaldo Y. Go said in a report that beverage product “My Juice” will no longer be re-produced because of higher tax.
“My Juice” is a 25-gram powder juice drink that had been competing in the local market for the past 15 years.
Go said the government is charging P7.20 in excise tax when the juice, supposedly one of the most affordable juice drinks in the Philippines, is only priced at P7.05.
“If we increase our prices, no one is going to buy our product anymore because we become so expensive already, so we stopped producing ‘My Juice’ in January this year,” he further said.
With the closure of the beverage product, Columbia lost P15 million in inventory and around P120 million to P200 million in sales, a report in Manila Bulletin showed.
Go also lamented the government’s insufficient consultation with the industry in the passage of the first package of the comprehensive tax reform program.