KBL records sales slump as 30% bites

In an interview with Business Week, the breweries' Director of Strategy and Corporate Affairs Thapelo Letsholo said their historical data from 2000 indicates a real price to volume correlation of 1:1 over an eight-year period.

This means that for every one percent change in real price, there is an expected one percent change in volume, Letsholo said. Given the magnitude of the levy, "we concluded that we were likely to experience, in the worst case over time, a correlation in excess of 100 percent and therefore a volume loss in excess of 30 percent.