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Cigarette volumes decline on back of 16.9% fall in micros - Views on News from Equitymaster
 
 
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  • Mar 15, 2000

    Cigarette volumes decline on back of 16.9% fall in micros

    Cigarette sales have declined by 4% in volume terms over the last eleven months between February–April 1999. Interestingly, the decline has been driven by 16.91% fall in the under 60 mm mini–cigarette segment.

    Cigarettes contribute only 15% of the tobacco consumption in the country with bidis and tobacco chewing accounting for the balance consumption. What could be possibly happening is that the mini–segment users are downtrading to the use of bidis.

    Among the companies, it is ITC which dominates the mini–segment with its Scissors brand. It also has other brands in the segment such as Berkley Standard, Capstan and Bristol. Similarly, Godfrey Phillips has Red and White Super and Commando apart from Cavender Super in this segment. VST’s Charms is another big player in this segment. All these are bound to be affected if the mini–segment volumes drop.

    In the FY99 budget the government had given a relief to this segment by not raising the excise duty to 40% for this segment. (In the latest budget excise duty has been raised across the board to 45%.) This led to a growth of this segment. However, with this segment now on par with the other segments the decline in this segment has become apparent.

     

     

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