States with the highest excise taxes have some of the lowest teen smoking rates.
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Wednesday April 25, pm Eastern Time Philip Morris raises cigarette prices. NEW YORK, April 25 Reuters - Tobacco giant Philip Morris Cos Inc. NYSE:MO - news.
Tax, price and cigarette smoking: evidence from the tobacco documents and implications for tobacco company marketing strategies.
Altria Group Inc is raising the price of Marlboro and other cigarettes by 71 cents to 81 cents per pack and is lowering the cost of the high-end smokeless.
Mar 31, 2009 Smokers are gasping at higher cigarette and cigar prices as the largest federal tobacco tax increase in history takes effect.
And now they have to rais the prices of cigarettes, thats bulls Why should cigarette prices be raised. Did Obama raise the prices of cigarettes.
NEW DELHI: The excise duty hike on cigarettes in this budget has had a domino effect on the black market as distributors have hoarded stocks and are selling them at a premium to retailers. The revenues from such illegal sales could run up to thousands of crores as cigarette makers take a few weeks to announce revised prices. For instance, a 20s pack of Classic Milds manufactured by ITC is selling for around Rs 220 in the capital, while the maximum retail price (MRP) on it reads Rs 190. This is a repeat phenomenon every time there is an excise duty hike on cigarettes. Even last year, after the budget, consumers were being forced to cough up Rs 200-220 for a 20s pack of Classic cigarettes that carried an MRP of Rs 170, while a Gold Flake pack of 10 (MRP Rs 85) was being sold for Rs 90-110. ITC, maker of cigarette brands such as, Classic, Navy Cut and Gold Flake pointed out that retailers are prohibited by law from charging above the MRP. "If they overcharge, they are liable to be prosecuted by the authorities. ITC Ltd prints the MRP on the cigarette packages in compliance with the Legal Metrology (Packaged Commodities) Rules, 2011. As and when, the MRP is changed, the revised MRP is printed on the packages. ITC sells the cigarettes to wholesale dealers on a principal-to-principal basis. The wholesale dealers in turn sell to secondary wholesalers from whom retailers buy for eventual sale to consumers. There are a number of retail outlets that prominently display price lists showing the MRP of the various brands for consumers' benefit; there are also many fair-price retail shops that sell cigarettes at the MRP," an ITC spokesperson said. In the last budget, finance minister Arun Jaitley proposed to increase duty on cigarettes by 11-72%. This time, he hiked it even further — 25% on cigarettes of length not exceeding 65 mm and 15% for cigarettes of other lengths. When asked about why they charge a premium even before new prices are introduced, panwalas and kirana stores are quick to shift the blame to distributors. "They have been hoarding stocks before the budget because they anticipated a hike. This is the window during which they can earn huge money. When we ask them for new stocks, they say that they don't have any and charge a premium from us," said Ramen Shah, who runs a pan shop in South Delhi. However, the ITC spokesperson said there is adequate stock in the market.
- Mar 28, 2013 Raise cigarette prices to snuff teen smoking: Our view. States with the highest excise taxes have some of the lowest teen smoking rates.
- The maker of Marlboro, Benson Hedges, and Virginia Slims raised wholesale prices by 6 cents a pack, effective Monday. CNN Reports Cigarette Price Hikes.
- Mar 10, 2015 Cigarette prices raised even before there are also many fair-price retail shops that sell cigarettes at the MRP More from The Times of India.
Every 10 percent increase in cigarette prices reduces youth smoking by about seven further increasing tobacco taxes. Governments can raise even more revenue.