JTI Ukraine to Resume Tobacco Export and Launch Ploom

JTI by 2FIRSTS.ai

Mar.06.2024

JTI Ukraine to Resume Tobacco Export and Launch Ploom

JTI Ukraine aims to maintain or increase market share despite challenges, with potential new investments in Ploom device.

According to Ukrainian media NV, Svitlana Sharamok, General Manager of Japan Tobacco International (JTI) Ukraine, stated that this year the company's plan is to maintain market share and possibly even increase market share. She emphasized that this task is not easy, as more and more consumers are turning to illegal products.

Shalamov explained that their factory in Krymchok primarily targets the domestic market in Ukraine, as well as exporting products to 22 countries, including Japan, Mexico, and Saudi Arabia. The export business alone brings in approximately $120 million in foreign exchange revenue each year. However, with the onset of full-scale war, the factory has lost some of its export market share.

They are currently working to recover their export business. Shamrock stated that this process is progressing slowly due to the complexity of logistics. At present, the only option is to transport goods by road as ports are unavailable. This is both more expensive and time-consuming. Additionally, due to unclear tax policies and the constantly changing business environment domestically, acquiring new orders has become difficult.

She also revealed that last year JTI Ukraine paid approximately 25 billion hryvnias (6.5 billion USD) in taxes to the treasury, making it one of the top five taxpayers in Ukraine. Shalimov stated that the heated tobacco device Ploom will enter the Ukrainian market this year, bringing additional investments worth millions to Ukraine.

References:

[1] JTI Україна відновлює експорт і планує запуск свого флагманського продукту Ploom

Also Read:

[1] PMI Reports 8.4% Increase in Product Shipments in Ukraine

[2] Ukraine Considers Taxing Cannabis Production as a Budget Solution

[3] Ukraine Parliament Votes to Legalize Medical Marijuana

[4] Discovery of Underground Tobacco Factory in Ukraine

#Europe #Market #UK #Ukraine #JTI #Heated tobacco products #The United Kingdom

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