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Philip Morris Korea to increase exports

| April 21, 2015

Philip Morris International Korea (PMIK) will increase its cigarette exports to an expected 20 billion sticks this year after securing larger markets in Japan and Australia.

The company will expand its export of cigarettes manufactured in its factory in Yangsan, South Gyeongsang Province, in an effort to make up for domestic losses caused by a tobacco tax hike that went into effect on Jan. 1. The bill—which increased tobacco prices to won4,500 per pack from the average won2,500 per pack—resulted in significant decreases in sales for tobacco makers operating in the country. PMIK’s sales dropped by approximately 18 percent in the first quarter of 2015 compared to the first quarter of 2014.

In 2012, the company invested approximately won200 billion into the Yangsan factory to expand its packaging facilities and add raw material processing facilities. Today, the factory has the ability to produce 40 billion cigarettes per year, double its prior manufacturing capacity.

“Since 2012, our exports grew more than 10 times, thanks to the increased capacity in Yangsan factory, as well as the growing quality,” said Mikhail Prokopchuk, PMIK’s director of operations.

Exports from the Yangsan factory to Japan, Australia, Singapore, Taiwan, Hong Kong and Macua have increased dramatically since manufacturing capabilities were expanded, with export volumes increasing from 900 million cigarettes in 2012 to 4.5 billion cigarettes in 2014.

Zimbabwe’s tobacco exports earn $200 million

| March 17, 2015

Zimbabwe has earned $211.9 million from tobacco sales thus far this year. China continues to be the leading importer after buying 19.3 million kg worth $166.7 million since the beginning of the marketing season. Zimbabwe exports Virginia tobacco to more than 50 countries on all but two continents.

South Africa ranks as the second-biggest importer of the golden leaf, after buying 3.5 million for $13.5 million at $3.77, according to the Tobacco Industry and Marketing Board. Mauritius, which bought 1.3 million kg worth $5.4 million at $4 per kg, ranks as the third-highest importer. Other top importers include Russia and the United Arab Emirates. Zimbabwe produced 216.2 million kg of Virginia tobacco in 2014.

Tobacco among top Russian exports

| May 22, 2013

Tobacco factories feature prominently on a list of leading Russian exporters recently published by Expert Severo-Zapad.

According to the business magazine, British American Tobacco in St. Petersburg leads the pack with export revenues of $91.9 million last year. Philip Morris Izhora exported tobacco products worth $70.9 million in 2012, up 15.1 percent from the previous. JTI’s Petro factory came next with exports worth $57.2 million, up 20.7 percent from 2011. JTI’s Kres Neva tobacco processing plant saw its export declining 56.6 percent to $14 million.