Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Tobacco exports decline 14.2% in 2024

PHILIPPINE STAR/RYAN BALDEMOR

EXPORTS of unmanufactured tobacco declined 14.2% to 17.8 million kilograms in 2024, the National Tobacco Administration (NTA) said.

By value, exports fell 6.5% in 2024 to $94.59 million.

According to the NTA, the top exporters of unmanufactured tobacco in 2024 are Universal Leaf Philippines, Inc. with 14.14 million kilos worth $111.97 million and JTI Asia Manufacturing Corp. with 1.89 million kilos valued at $3.12 million.

Rounding out the top five were Continental Leaf Tobacco (Philippines), Inc. with export volume of 747,210 kilos worth $3.9 million; Trans Manila, Inc. 636,120 kilos worth $1.85 million, and PMFTC, Inc., 315,026 kilos worth $795,761.

The Philippines exported at 3.7 million master cases of cigarettes in 2024, down 27.9%.

Cigar exports dropped 21.6% to 3.84 million pieces, while exports of heated tobacco products fell to 10,637 sticks in 2024.

Among the top exporters of manufactured tobacco are JTI Asia with 32.64 million kilos valued at $397.51 million, followed by PMFTC with 5.15 million kilos worth $46.48 million.

Other top exporters were Telengtan Brothers and Sons, Inc. with 3.21 million kilos valued at $34.92 million, Tann Philippines, Inc. with 2.58 million kilos worth $15.46 million, and Prudence Development and Management Corp. with 2.42 million kilos worth $15.58 million.

The NTA said the volume of unmanufactured tobacco imports fell 39.9% to 30.59 million kilos.

The value of unmanufactured tobacco imports declined to $115.87 million from $229.47 million a year earlier.

The NTA said more than half of the imported tobacco is used for cigarette and cigar manufacturing, with 39% going on to be exported as cigarettes, and 4% for export as processed leaf. — Adrian H. Halili

    You May Also Like

    Stock Markets

    SULA Spirits celebrates Filipino artistry with bottles that are as refined as the craft they hold. Have you ever wondered how the perfect day...

    Finance

    Sara Davies, the Dragons’ Den entrepreneur, is set to regain control of Crafter’s Companion, the craft supply business she founded, through a fast-tracked pre-pack...

    Finance

    Businesses shed jobs at the fastest pace in four years last month after higher employment costs and mounting uncertainty from the autumn budget dented...

    Finance

    Millions of people across the UK are at risk of penalties after HM Revenue & Customs (HMRC) revealed that 5.4 million taxpayers have yet...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.