Mighty Corp aimed for more tobacco production from local farmers

Mighty Corp, one of the biggest local producers of low-priced cigarettes pursued to buy 10 million kilograms of tobacco products worth millions of pesos from farmers in the country.

In an official letter of intent that Executive Vice President Oscar P. Barrientos sent to National Tobacco Administrator Edgardo D. Zaragoza, said that they are buying tobacco from farmers 100 percent more than the five million kilograms that 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.

Market shares of Mighty surged to almost 20 percent of the low-priced cigarette brands in 2013 from three percent the previous year, which resulted to the payment P8.2 billion in excise taxes.