Bulgaria Tobacco Monopoly Announces New Price Hike

Source from:  Novinite 05/11/2009

The prices of some of the most popular cigarette brands of the Bulgarian tobacco monopoly "Bulgartabac" will go up again by mid-May. The information was reported Friday by the company's CEO, Ivan Bilarev. The prices of the brands "Eva" and "Sredets" will increase by BGN 0, 20 to 0,30, but the "Victory" brand will maintain its price of BGN 3,40 until the end of 2009. The prices of all Bulgarian cigarette brands went up April 1 due to the excise increase. The manufacturers then established the so-called "intermediate" prices to deal with market competition. "Bulgartabac" owns 60% of the cigarette market in the country. The other cigarette makes - "Plovdiv Cigarette factory" and "Sluntse Stara Zagora" announced they will maintain the current prices, but added that they keep the option to raise them at any time over market changes. Enditem