Feb 2013 Financial News

Witco announces another price increase

Feb 14, 2013

For the fourth straight year, smokers will have to pay more for cigarettes following the announcement of price increases in tobacco products from West Indian Tobacco Company (Witco). Managing Director of Witco Jean-Pierre du Coudray told the T&T Guardian the company had no other because of tobacco price increases on the international market.

“It is all about demand and supply and right now there is a global shortage of the type of tobacco that we use in T&T. As a result of that we must pay a higher price,” said du Coudray who added that he does not expect negative reaction from smokers as it is “only a four per cent increase.”

“This increase is half the level of inflation and I think it is very reasonable. People who are experiencing other global commodity increases will understand it is something way beyond our control. When consumers look at the price of cheese, milk and rice, our increase is in line with inflation,” he said. Witco published media ads on Monday informing retailers of price increases for its cigarette brands.

Up to last year, a full pack of Du Maurier retailed at $20, a full pack of Broadway at $18 and a full pack of Dunhill at $22. With the latest price increases, a Dunhill Fine Cut pack of 20 cigarettes White, Red and Green will retail for $28. The regular Dunhill Red pack of 20 will retail for $23, the Red pack of 10 for $13, the Green pack of 20 for $23 and the Blue pack of 20 for $23.

The du Maurier red pack of 20 will retail for $21, the red pack of ten for $12, the green pack of 20 for $21 and the blue pack of 20 for $21. The Broadway red pack of 20 will retail for $19, and the Broadway pack of 10 for $11. Last May, Witco announced a four per cent price increase. Before that there had been price increases in 2011 and 2010.


Source:
Raphael John-Lall
Trinidad Guardian
Thursday February 14, 2013

http://www.guardian.co.tt/business/2013-02-14/witco-announces-another-price-increase