Régie eyes $1 billion turnover this year
Syria crisis gives positive boost to tobacco sales
Tobacco sales in 2012 will exceed $1 billion, according to the Régie, managing the State's monopoly of procurement, manufacturing, and selling of tobacco and tombac. In 2011 sales stood at $733 million, of which $482 million went to the State’s Treasury.
“It is obvious that the increase in sales is due to the crisis in Syria,” an official at the Régie said.
“Demand from wholesale dealers has grown over the past year, probably because more products are being exported to Syria.” The Régie sells its products to more than 1,700 tobacco dealers in the local market. The official said that Régie sales could decrease after the war in Syria ends.
The Régie announced significant investments in tobacco manufacturing earlier this year, including $2 million for setting up a new tobacco-rolling line. Recently, the Cabinet has also approved a grant from Japan Tobacco International (JTI) for the construction of a tobacco sorting facility in Bekfaya. The grant, valued at $500,000, will cover only part of the facility's cost.
Reported by Yassmine Alieh
Date Posted: Dec 17, 2012