ITC Increases Cigarette Prices

Source from:  tobaccojournal.com 28 May 2008 06/03/2008

ITC, one of India's largest diversified conglomerates, has revised the prices of select cigarette brands by up to AED 2-8 per pack. While the company did not disclose the brands or the extent of the revision, distributors and wholesalers said it has hiked the maximum retail price (MRP) of brands such as Classic, Gold Flake Kings and Silk Cut by 5-10 per cent. As per the changes, Classic would cost AED 8 more at AED 88 for a pack of 20 cigarettes, while Gold Flake Kings would cost AED 2 more at AED 40 for a pack of 10 cigarettes. The company plans to hike the prices of other brands by an unspecified amount from Sunday. The new pricing would be applicable as soon as new batches with the revised MRP are available in the market. Similarly, another cigarette major Godfrey Phillips India (GPI) is also expected to take a call on whether to increase the prices or not. The development would make filtered cigarettes more expensive. Enditem