Economists Tips Smuggling Boom If Cigarette Prices Raised 365%
A plan touted by some in the government to increase cigarette prices is likely to have a disastrous effect on tobacco farmers and encourage counterfeit and smuggling in the local market, a researcher has said.
Rumors of a price hike were sparked after research from the University of Indonesia’s center for health economics and policy studies found rising prices lowers cigarette consumption.
The research found that 71 percent of smokers would quit entirely if the price reached Rp 50,000 ($3.75) per pack.
DzulfianSyafrian, an economist at the Institute for Development of Economics and Finance (Indef), said any price hike would substantially affect the industry, pointing firstly to laborers and farmers who would likely lose their jobs.
Related Posts
Decline in seizures of counterfeit goods, Dubai Customs says
The threat of counterfeit products smuggled into Dubai is on a downward trend...
BSF Seized Cosmetic Items Worth 1.66 Lakh At Indo-Bangladesh Border
On 09 January, 2022 under South Bengal Frontier, troops of Border Out Post , 82...
Fake cement hits Malawi market
One of the cement manufacturing companies in Malawi, Lafarge, has expressed...
Illegal cigarettes worth $16 million have been found.
An organised crime syndicate that imported and distributed illicit tobacco in...