Romania's Cigarette Producers Hike Pk Price By RON0.2 On Higher Excise

Cigarette producers in Romania increased Monday the price of a pack of cigarettes by 0.2 lei (EUR1=RON3.9305), as the minimum excise per 1,000 cigarettes will hike on January 1, 2009.

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Representatives of JTI Romania, British American Tobacco (Romania) Trading, and Philip Morris Romania stated they increased the price of a pack of cigarettes by RON0.2 as of Monday.

Romania has set the minimum level of cigarettes excise available between January 1 and June 30, 2009 at RON166.79 per 1,000 cigarettes, 9% higher from the RON152.72/1,000 cigarettes excise enforced in the second half of 2008.

In European currency, the minimum excise will decrease, from EUR45.5/1,000 cigarettes to EUR44.64/1,000 cigarettes between January 1 and June 30.

The excise for the first half of 2009 was calculated at an exchange rate of RON3.7364 to the euro, compared with an exchange rate of RON3.3535 against the euro for the second half of 2008.

According to the Fiscal Code, the minimum excise level is settled on half-year basis, according to the evolution of the excise for the cigarettes in the best-selling category.

Romania should gradually increase the minimum excise per 1,000 cigarettes in order to reach EUR74 by 2010.

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