Philip Morris Exports Hit $62M as of Oct

Source from:  Malaya 11/09/2011

PHILIP Morris Fortune Tobacco Corp. (PMFTC) yesterday said its export earnings reached $62.2 million as of October this year, "slightly higher" than October 2010's $ 61.9 million. The Philippines is a major tobacco producer and a growing exporter of manufactured cigarettes, through PMPMI, to Thailand, South Korea, Australia, Hong Kong and Pakistan. "There seems to be an increase in demand for cigarettes in Thailand. All the same, we're glad that despite local concerns, the company maintains a small, gradual increase in output and sales," said PMFTC president Chris Nelson. Nelson said the company's high export earnings provide the company the clear basis to continue the business. "Because exports must be treated in value as per WTO decision," Nelson said, referring to the ruling of the World Trade Organizaton which said Thailand's tax structure was discriminatory, affecting Philip Morris' exports. PMFTC plans to expand in Mindoro and other key tobacco-growing areas in the Philippines such as Isabela, Cagayan Valley, Mindoro, Bacolod and Bohol by 2012. About 450 hectares of tobacco plantation in Mindoro and 3,500 hectares in Isabela are available. "We are prepared to pour substantial resources to strengthen these tobacco-growing communities" said Nelson. Meanwhile, PMFTC said it will continue the public information component of its cigarette butt disposal campaign called "Ba2D2" as part of its commitment to reduce the environmental impact of its products. "We seek to proactively address the issues caused by cigarette butt litter," said about the status of Ba2D2. Ba2D2, relaunched last year, is a shortened Tagalog term for "Ibato Mo Dito (Throw it here)." Enditem