In Process Bulgaria's Bulgartabac to hike cigarette prices again..

March 10, 2009 - Bulgaria's tobacco monopoly Bulgartabac (with about 60% of the cigarette market) is increasing cigarette prices by an average of 27%, the company's CEO, Ivan Bilarev, informed Tuesday, March 10, 2009. Bilarev further pointed out that the new prices were not even as high as the current market situation dictated, but added Bulgartabac would try to maintain them as long as possible. The CEO explained that many competitors have listed prices but were celling cigarettes at different ones, thus stirring a market war.

Bulgaria's Bulgartabac Holding was to increase by 26 percent cigarette prices starting in January 2009 due to higher excise duty.

Reference: Bulgaria's Tobacco Monopoly Hikes Prices over Market War, Sofia News Agency -, 3/10/2009.