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Tobacco farmers oppose move to cut crop size

July 21st, 2011 Posted in Tobacco industry Tags:

Tobacco Association
Tobacco growers are opposing any move to reduce the crop size for the coming season. They met Tobacco Board executive director Ch Subba Rao in the light of the Indian Tobacco Association (ITA) sending a proposal to the board suggesting cut in the crop size.

The ITA had recently written to the board to reduce the crop size to 121.55 million kg for the 2011-12 season as against the 165 million kg permitted for 2010-11. ITA president Bellam Kotaiah informed the board that the tobacco prices in the international market had declined forcing the ITA to bring down the prices and slash the purchase volume. Ream more »

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Price set by Pakistan Tobacco Board hits growers

July 8th, 2011 Posted in Tobacco industry Tags:

Tobacco Board
The tobacco growers have said that their hard earned labour was going up in smoke due to the exploitation of the tobacco companies and the apathy of the local bureaucracy that fixes the rates of the commodity.

The Pakistan Tobacco Board has fixed the price of the commodity below its cost of production, Ikramullah Khan, president of the representative body of the growers, the Anjuman-e-Kashtkaran Tobacco Khyber Pakhtunkhwa said in its meeting held the other day at Charsadda.
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Tobacco farmers get aid for planting rice

July 5th, 2011 Posted in Tobacco industry Tags:

planted tobacco
Over P220 million worth of production assistance will be provided by the National Tobacco Administration (NTA) to tobacco farmers so they plant rice during the rainy season.

NTA administrator Edgardo D. Zaragoza said the program will boost the drive to become self-sufficient in rice 2013. Zaragoza recently distributed checks to 1,484 farmer co-operators in La Union, Pangasinan, Ilocos Sur, Ilocos Norte, Abra and Mindoro who are scheduled to plant rice in over 1,242 hectares of land previously planted to tobacco. Ream more »

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Will New Packaging Stop Big Tobacco?

June 30th, 2011 Posted in Tobacco industry Tags:

Big Tobacco profits
Graphic anti-smoking labels are coming to a tobacco retailer near you. But will it matter to tobacco companies’ profits?

The FDA is requiring that cigarettes sold in the U.S. feature pictorial warning labels on the top 50% of the front and back of the package. Similar warning labels must comprise at least 20% of advertisements. Domestic tobacco players such as Altria (NYSE: MO ) , Reynolds American (NYSE: RAI ) , Lorillard (NYSE: LO ) , and Vector Group (NYSE: VGR ) have until the autumn of 2012 to comply.
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Tobacco Bonds Gain Favor on Potential Steady Income

June 23rd, 2011 Posted in Tobacco industry Tags:

tobacco-backed bond
Ending a $7.1 billion dispute between states and cigarette makers may prevent future litigation and provide tobacco-backed bonds with more predictable income streams.

The bonds rallied yesterday after reports that tobacco companies tentatively agreed to settle a disagreement dating to 2003. The fight stemmed partly from company claims that market- share erosion reduced the amounts they’re required to pay 46 states under a 1998 agreement tied to medical-related expenses.
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Philip Morris International (NYSE:PM) Extends Ferrari Deal

June 16th, 2011 Posted in Tobacco industry Tags:

Philip Morris sponsorship
Philip Morris International (NYSE:PM), the tobacco company, has announced that it has extended its long running sponsorship deal with Ferrari till 2015 season.
The current deal started in 2005 and will end at the end of this year.
The team has been forced to remove the official branding from its cars due to anti-tobacco advertising legislation. Ream more »

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Convenience store operator sentenced for untaxed cigarette sales

June 8th, 2011 Posted in Tobacco industry Tags:

untaxed cigarette sales
It is an introduction Northwest Knoxville convenience store operator and cigarette smuggling ringleader Hazam Ali Ahmed was wishing Tuesday he had made long ago.

Ahmed, a 38-year-old Yemen native and naturalized U.S. citizen, was one of a slew of cigarette smugglers caught up in a multistate FBI-led probe of convenience store operators who were buying what they thought were stolen untaxed smokes, reselling them and pocketing the difference between the taxed and untaxed cost. Ream more »

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Kick the habit of tobacco sales

June 6th, 2011 Posted in Tobacco industry Tags:

Kick the habit of tobacco
I’m sad to see that tobacco marketing works. Apparently, the $1.1 million a day spent by the tobacco industry to market its products in New York is not going to waste, as proven by the May 31 editorial, “Good intentions, not good policy.”
The editorial equates tobacco to “sugary soda, ice cream, cream-filled cakes, beer” — likening the number one cause of preventable death in the United States to just another occasional treat. Ream more »

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Big Tobacco Still Smoking, but For How Long?

June 3rd, 2011 Posted in Tobacco industry Tags:

tobacco market
Tobacco companies have long been the defensive stock of choice for investors, offering strong dividends and generating large amounts of cash. But as austerity packages bite and household budgets are squeezed, some analysts have questioned the continued health of the sector.

In January, Citi analysts shocked observers by downgrading Philip Morris International (PMI) British American Tobacco (BAT) and Imperial Tobacco, based on long term projections that smoking would decline almost to zero in some markets within 30 years. Ream more »

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Governor to get cigarette tax renewal bill

June 3rd, 2011 Posted in Tobacco industry Tags:

cigarette tax renewal
A bill to renew part of the state’s cigarette tax won final legislative approval Thursday, setting up a confrontation with Gov. Bobby Jindal.
The measure, House Bill 591, won state Senate approval 29-8 after only a brief discussion.
Jindal opposes the measure, considers it a tax hike and plans to veto the bill.
Assuming that happens, the Legislature would have to mus-ter a two-thirds majority for the measure to take effect, which has only happened twice since the 1920s, according to the Louisiana News Bureau. Ream more »

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