This is the view of SP Brewery managing director Ed Weggemans, who said he believed this was as a result of Russia's invasion of Ukraine.
Ukraine is one of the world's main producers of barley and the war has caused its supply to the world market stop.
"The war in Ukraine will have an impact on us but also other companies that depend on raw materials such as grains, wheat and barley," Weggemans told The National newspaper.
"I'm not saying that the barley that we use comes from Ukraine but Ukraine is a major producer of barley in the world. Their barley is no longer available to the rest of the world so the available barley will become scarce. That is going to affect us and the price of barley is going to go up.
"It has already gone up but we expect it to go up even more as it becomes scarce. That's another challenge that's ahead of us, which is here already but we expect it get worse."
Weggemans said that barley was the main ingredient in SP beer products. "We use barley for all these products that we make. It is also going to affect other industries, people who make bread, noodles and all those will be affected."
The Ukraine war is affecting the world including PNG with the prices of goods increasing. The PNG government has introduced several tax measures such as the reduction or lifting of excise tax and GST on retail fuel prices.
It is understood that work is under way to implement the lifting of GST on certain key household goods such as rice, Ox and Palm and other products sold in retail shops.