Tobacco Firm Raises Cigarette Prices

Filipino owned Cigarette and Tobacco manufacturer Mighty Corporation has increased prices of its cigarette products ahead of the upcoming rate increase in excise tax starting January next year.

Tobacco Firm Raises Cigarette Prices

In its official standard retail price list effective November 13, 2013, the only Filipino owned and controlled cigarette maker jacked up prices of its popular brands Mighty Filter Kings and Mighty Menthol by 24.5 percent to P183 per ream from P147.

With the increase, the net wholesale price of Mighty Filter Kings and Mighty Menthol per pack (20-sticks) is now at P18.6 from P14.7, while the suggested retail price of these two cigarette brands is P22 from P14.8.

Mighty Filter Kings and Mighty Menthol's soft pack 20’s  is currently being sold at sari-sari stores in areas of Bicol, Cebu, Zamboanga and some parts of Metro Manila at P1.5 per stick from P1.

After the increase, Mighty cigarettes and market leader PMFCT Inc., the merged entity of Philip Morris Philippines Manufacturing and Lucio Tan-owned Fortune Tobacco, are headed for a showdown in the low-priced tobacco market.

PMFTC sells Jackpot cigarettes at a wholesale price of P192 per ream or P19.2 per pack of 20’s.