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Category: News This Week

  • Altria to Webcast 2025 Q3 and Nine-Month Results

    Altria to Webcast 2025 Q3 and Nine-Month Results

    Altria Group, Inc. will host a live audio webcast October 30, at 9 a.m. ET, to discuss its third-quarter and nine-month business results. A press release with the results will be issued at approximately two hours in advance.

    CEO Billy Gifford and CFO Sal Mancuso will present the results and answer questions from investors and the media. The webcast is listen-only, and pre-registration is required. Directions are available at www.altria.com/webcasts. An archived version will be accessible on Altria’s website after the event.

  • Pakistan Tobacco Farmers in Crisis as PTB Surplus Order Flouted

    Pakistan Tobacco Farmers in Crisis as PTB Surplus Order Flouted

    Tobacco farmers in Khyber Pakhtunkhwa and Punjab are struggling as local companies fail to comply with the Pakistan Tobacco Board’s (PTB) September directive to purchase 40 million kilograms of surplus crop, according to Business Reporter. While some major firms have met their obligations, most local companies have delayed or refused purchases, leaving thousands of farmers with unsold tobacco and mounting financial losses, the article said.

    Farmers report that companies are buying tobacco below the Minimum Indicative Price and failing to honor payment terms, forcing growers to sell at throwaway prices to middlemen. In Swabi, for example, flue-cured Virginia tobacco remains in storage with no buyers in sight.

    Experts warn that issuing surplus orders without a monitoring framework or penalties has left farmers exposed. Compliant companies face liquidity and storage constraints, while non-compliant firms distort market dynamics. Industry analysts suggest that a second surplus order may be considered, but without stricter oversight, its impact could be limited.

    The crisis comes amid broader challenges for Pakistan’s legal tobacco industry, including falling domestic demand and economic pressures. Farmers emphasize that tobacco is a family livelihood, and the government’s lack of enforcement risks eroding trust in regulatory safeguards.

  • Ukraine’s Illegal E-Cigarette Market Costs $180M in Taxes

    Ukraine’s Illegal E-Cigarette Market Costs $180M in Taxes

    Ukraine’s e-cigarette market is almost entirely illegal, with the shadow market accounting for 93% of consumption, according to Mykola Pasichnyi, professor at the Kyiv National University of Trade and Economics. About 40% of vaping liquids are smuggled, while 60% is counterfeit and locally produced, he said.

    The illicit trade causes the government to lose an estimated 7.5 billion UAH ($180 million) annually in taxes, including excise, VAT, and local levies. Pasichnyi warned that combating this requires stronger enforcement by customs, border guards, and tax authorities, along with dedicated funding.

    Despite the scale of the problem, Ukraine’s draft 2026 budget allocates only an additional 13,500 UAH ($324) for the Bureau of Economic Security and none for customs reform, raising concerns over government priorities. Experts say urgent action is needed to regulate the market, recapture lost revenue, and curb the illegal trade.

  • Seminar Calls for THR Policy in Bangladesh

    Seminar Calls for THR Policy in Bangladesh

    Speakers at a seminar in Dhaka urged the Bangladesh government to adopt a practical tobacco harm reduction policy to cut smoking-related health risks. The event, titled “Policy for Progress: Towards Harm Reduction 2.0” and organized by Policy Exchange Bangladesh and the Bangladesh Harm Reduction Foundation, compared Bangladesh’s current approach with successful global models such as New Zealand and Sweden.

    Former World Medical Association secretary-general Dr. Delon Human said that New Zealand cut its smoking rate by nearly half by officially recognizing alternatives like vaping, while Bangladesh’s progress has been slower due to a lack of such policies. Other speakers warned that bans on electronic nicotine products have instead fueled illicit trade, depriving consumers of regulated, safer options and reducing tax revenue.

    Participants, including Timothy Andrews, director of consumer issues for the Tholos Foundation, and Schumann Zaman, president of the Bangladesh Electronic Nicotine Delivery System Traders Association, called for balanced regulation rather than prohibition, stressing that harm reduction strategies and legal frameworks could help Bangladesh transition to less harmful products and achieve meaningful progress in public health.

  • Philippine Harm Reduction Advocates Push for Smoke-Free Future

    Philippine Harm Reduction Advocates Push for Smoke-Free Future

    Advocates of tobacco harm reduction in the Philippines signed a joint manifesto Wednesday (October 15) calling for multi-sectoral collaboration and greater access to science-based alternatives to help reduce smoking-related harm. The signing, held in Mandaluyong City, brought together representatives from groups including the Nicotine Consumers Union of the Philippines (NCUP), Smokefree Conversations PH, Quit for Good, and the Philippine E-Cigarette Industry Association.

    The manifesto urged policymakers to empower adult smokers with better choices rather than continuing to rely solely on tobacco products, describing harm reduction as a “lifeline” for those unable to quit. It also called for the defense of the country’s Vape Law (RA 11900) that regulates vaporized nicotine and non-nicotine products as a legitimate public health measure.

    Advocates said adult smoking rates rose to 23.3% in 2023, underscoring the need for alternatives. NCUP founder Anton Israel emphasized the importance of educating the public about the difference between traditional tobacco and vaping products, adding that while vaping is not risk-free, it can be a less harmful step toward quitting smoking.

  • Philip Morris Italia Under Investigation for ‘Smoke-Free’ Language

    Philip Morris Italia Under Investigation for ‘Smoke-Free’ Language

    Italy’s competition authority launched an investigation into Philip Morris Italia for allegedly misleading advertising related to its “smoke-free” electronic cigarettes. The probe, announced today (October 15), centers on the company’s use of phrases such as “a smoke-free future” and “smoke-free products,” which regulators say could mislead consumers into believing the products are harmless.

    The Italian Competition Authority (AGCM), accompanied by financial police, searched two Philip Morris offices in Italy as part of the inquiry. The watchdog said that while these products do not involve combustion, they can still pose health risks and cause addiction.

    “Philip Morris Italia believes it has always acted in full compliance with applicable regulations,” a PMI spokesperson said regarding the proceedings initiated the AGCM. “The company is confident that its communication is factual, truthful, and fully consistent with both Italian and European legislation, which associate the absence of smoke with the absence of combustion. Italian Legislative Decree No. 6/2016, which transposes EU Directive 2014/40/EU, defines in Article 2, paragraph 5, a ‘smoke-free tobacco product’ (‘smokeless tobacco product’ in the English version of the directive) as ‘a tobacco product that does not involve a combustion process.’

    “The pursuit of a smoke-free future has been the primary global objective of Philip Morris International for nearly a decade—an ambition that the Italian affiliates have been working toward for years, alongside an integrated ‘Made in Italy’ value chain involving 44,000 people.

    “The company will continue to cooperate with the Authority throughout the proceedings to demonstrate the full legitimacy of its actions.”

    The move follows similar action in France earlier this year, where Philip Morris was fined €500,000 for promoting its IQOS heated tobacco device as safer under the classification of harm reduction.

  • BAT Acquires Full Ownership of UzBAT for $22M

    BAT Acquires Full Ownership of UzBAT for $22M

    BAT Group completed its deal with Uzbekistan’s State Assets Management Agency to buy the state-owned stake in the UzBAT joint venture for $22.3 million, finalizing it on October 6. BAT acquired 641,661 shares (2.6%) as part of its continued commitment to the country’s economic and social development.

    Operating in Uzbekistan since 1994, BAT has invested over $500 million in the local market over the past 30 years. UzBAT, the country’s leading tobacco manufacturer, produces traditional cigarettes and, since 2023, heated tobacco sticks at the Samarkand Multi-Category Factory as part of BAT’s global “A Better Tomorrow” strategy to expand smoke-free products and reduce harm.

    The joint venture not only serves domestic demand but also exports products to Kazakhstan, Georgia, Azerbaijan, Iraq, and South Korea. UzBAT is a major employer with over 800 staff and a top private taxpayer. For seven consecutive years, it has been recognized as a Top Employer by the international Top Employers Institute.

  • Greece Fears EU Tobacco Tax Hike Will Fuel Smuggling Surge

    Greece Fears EU Tobacco Tax Hike Will Fuel Smuggling Surge

    Greece is warning that the European Commission’s sweeping proposal to raise tobacco taxes could trigger a sharp rise in cigarette smuggling, undermining both revenue and public health goals. The reforms — part of the EU’s effort to modernize its Tobacco Taxation Directive and introduce a new European levy — could push the average price of a cigarette pack in Greece from €4.60 to €7.00, an increase of more than 50%.

    At the Economic and Financial Affairs Council (ECOFIN) meeting, Greek Finance Minister Kyriakos Pierrakakis cautioned that steep excise hikes would “lead to a rise in smuggling,” citing Greece’s experience and its porous borders with non-EU countries, a key transit point for illicit tobacco. He warned that drastic price differences across regions would create new incentives for cross-border trafficking and black-market trade, threatening legal retailers and state revenues alike.

    Greece, which already has one of the highest smoking rates in the EU at around 30%, is particularly vulnerable to illicit trade. The government argues that the proposed tax levels could push many smokers toward cheaper, untaxed cigarettes, further expanding an underground market that already costs the country millions in lost revenue. To prevent this, Athens is advocating for a more moderate tax path, a longer adjustment period, and weight-based taxation for new nicotine products — balancing fiscal goals with the urgent need to curb smuggling.

  • JTI Malaysia Backs Phased Tobacco Excise Hike, Stresses Illicit Concerns

    JTI Malaysia Backs Phased Tobacco Excise Hike, Stresses Illicit Concerns

    JTI Malaysia voiced support for the government’s phased tobacco excise increases for budget 2026, starting November 1, describing the approach as balanced for revenue stability and enforcement continuity. The company emphasized that illicit cigarettes remain a major concern, urging continued coordination between the Ministry of Finance, Royal Malaysian Customs, and industry players to ensure tax adjustments are matched by strong border enforcement.

    JTI also expressed disappointment that vape products were excluded from excise measures, despite full regulatory parity under the 2024 Control of Smoking Products for Public Health Act.

  • EU Tobacco Tax Would Worsen Cyprus’ €22M Illicit Losses

    EU Tobacco Tax Would Worsen Cyprus’ €22M Illicit Losses

    Cyprus joins 11 other EU member states in opposing the European Commission’s plan to dramatically increase tobacco taxes, as officials warned the move could worsen the country’s growing illicit cigarette trade, which already costs €22 million annually in lost revenue. At 29%, Cyprus has the seventh-highest smoking rate in the EU.

    The proposal, discussed at the Economic and Financial Affairs Council in Luxembourg, would nearly triple minimum excise duties on cigarettes and, for the first time, introduce EU-wide levies on e-cigarettes and heated tobacco products. Under the plan, minimum cigarette taxes would rise from €90 to €215 per 1,000 cigarettes, pushing the price of a pack in Cyprus from €4.50 to as much as €7.50, while hand-rolling tobacco would almost double in cost. Next-generation nicotine products would face a 45% minimum tax from 2028, increasing to €88 per 1,000 units by 2032.

    Cyprus already faces a mounting smuggling crisis, with illicit cigarette consumption rising to 14.3% in 2024, up from 11% the previous year—equal to 130 million illegal cigarettes consumed. Across the EU, illicit consumption reached 38.9 billion cigarettes, causing €14.9 billion in lost revenue.