June, 12, 2019
The Chairman of the Ceylon Cold Stores, Krishan Balendra stated that their, beverage sector brand (Elephant House) has witnessed a 25% decline in volume last year arising from continued tapering of demand on Carbonated Soft Drinks (CSD) due to the price increases taken to mitigate the increased excise duty.
Hence, the firm withdrew its 'Go Sugar Free' soft drink line due to low consumer demand for sugar free CSD beverages in the Sri Lankan market, Balendra noted in the 2018/19 Annual Report of the Ceylon Cold Stores.
"The traction on the CSD (Carbonated Soft Drinks) “Go Sugar Free” variant introduced in 2018 was disappointing and as a result of the lack of consumer demand for sugar free CSD beverages in the Sri Lankan market, the Company withdrew the range, Chairman added.
Speaking further Balendra stated that, Align with global trends in the beverage industry, CCS has steadily reduced the sugar content in their beverage portfolio over the last two years whilst ensuring the retention of the quality and taste profile of their beverages.
‘CCS continues to engage with the relevant regulatory bodies to collaboratively work towards meeting the objective of sugar reduction through reformulation of recipes and innovation in a manner that is beneficial to the customer, the Government, the sustainability of the business and its value chain and other related stakeholders which include small scale farmers, distributors and retailers. He added.