Vendors huff and puff over new cigarette prices

CONVENIENCE stores and kiosks yesterday complained they were running out of cigarettes as importers had yet to supply them following the hike in tobacco tax approved last Friday.

The delay however, allowed some vendors to profiteer by selling their old stock at higher prices, which they had set arbitrarily.

“It is not logical,” said Eleni Zeniou, a kiosk employee in Nicosia. “No one gave any price lists. They charge whatever.”

Just down the road, a seller admitted raising his prices despite the fact that the tobacco companies had not given him a price list or fresh stock.

Trade minister Antonis Paschalides said there was profiteering going on but the ministry could not intervene.

“No ministry or minister has any right to set the price of cigarettes. But profiteering existed and will continue to do so. It is up to consumers to look and find the right vendors,” Paschalides said.

The convenience stores’ association (SYKADE) said there were sellers who were not professional and did not care but they could not go far because their supply was running out as most only stock for a week.

“Our stocks are running out,” said SYKADE chairman Anderas Theodoulou. “Everyone is shouting. They don’t have cigarettes to sell.”

Theodoulou put the delay in supply down to the companies trying to get better prices from the manufacturers.

“As I understand, they didn’t expect the rise in tax would bring such a rise in the retail price of cigarettes and it looks like they are trying to get better prices,” Theodoulou said. “They don’t want to have such high prices.” With the new tax, a packet of Marlboros could jump to €4.55 from €3.90.

The price of a 50-gramme pack of rolling tobacco is expected to rise by around €1.20 – bringing the price to just over six euros.

A packet containing half the quantity could cost over three euros, from around €2.50.

Theodoulou also suggested that it was a matter of competition between the companies.

“One is trying to see what prices their competitor will set. They want to be close. It is a matter of competition,” he said.

Customs said the problem had nothing to do with them.

“There is absolutely no obstacle as long as they give customs their retail prices” – a necessary condition before the tobacco shipments are allowed in, said senior customs official Niki Hadjiyianni.

She added that very few companies have so far done this.

Messages left with three tobacco importers, seeking comment, went unanswered yesterday.



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