In Azerbaijan in the near future imported cigarettes may become more expensive because of higher excise taxes, the chairman of European Tobacco Baku (ETB), Rufat Guliyev said.Prices for domestic cigarettes, to his knowledge, remain unchanged."Again, it is difficult to say exactly how this will happen. There is an objective law of supply and demand. If people are willing to buy cigarettes at a higher price, then surely the prices can rise. If demand falls, prices will not rise much or not change at all. I doubt that a sharp jump in prices will occur. If there are changes they will be very minor," Trend quoted Guliyev.Currently, according to Guliyev, ETB satisfies 27-30% of the consumption of cigarettes in Azerbaijan."If it is clear that we are able to sell more, then we'll increase the volume of production. Our production facilities enable us to do this. Of course, it depends on market conditions. The increase in the production of tobacco products depends on several factors – agreements with multinational companies that manufacture cigarettes, market demand and prices for raw materials," he explained.New increases in excise duties on imported cigarettes were approved by the Cabinet of Ministers of Azerbaijan yesterday.In Azerbaijan in the near future imported cigarettes may become more expensive because of higher excise taxes, the chairman of European Tobacco Baku (ETB), Rufat Guliyev said.
Prices for domestic cigarettes, to his knowledge, remain unchanged.
"Again, it is difficult to say exactly how this will happen. There is an objective law of supply and demand. If people are willing to buy cigarettes at a higher price, then surely the prices can rise. If demand falls, prices will not rise much or not change at all. I doubt that a sharp jump in prices will occur. If there are changes they will be very minor," Trend quoted Guliyev.
Currently, according to Guliyev, ETB satisfies 27-30% of the consumption of cigarettes in Azerbaijan.
"If it is clear that we are able to sell more, then we'll increase the volume of production. Our production facilities enable us to do this. Of course, it depends on market conditions. The increase in the production of tobacco products depends on several factors – agreements with multinational companies that manufacture cigarettes, market demand and prices for raw materials," he explained.
New increases in excise duties on imported cigarettes were approved by the Cabinet of Ministers of Azerbaijan yesterday.
