Mighty Corp., a tobacco manufacturer based in Bulacan vowed to buy 10 million kilograms of tobacco products worth millions of pesos from farmers in Northern Luzon.
In a letter of intent by Mighty executive vice president Oscar Barrientos to National Tobacco Administration administrator Edgardo Zaragoza said they would buy tobacco from farmers 100 percent more than the five million kilograms his firm bought in 2013.
“This is to assure our tobacco farmers of our willingness to help in response to the published report of the market leader in the tobacco industry to lessen production this year,” Barrientos said.
The said letter of intent also debunked critics’ allegations that Mighty Corp has been importing raw materials from foreign countries at low prices and is no longer buying tobacco from local farmers.
Critics are resorting to a smear campaign using malicious data that can pinned down Mighty’s tremendous increase of its market shares.
Mighty Corp’s market shares went up after the government implemented the Sin Tax Law. And this is the reasons why smokers switched to premium and sub-premium cigarettes to low-priced cigarettes.
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