BANGKOK, April 19 – Thailand Tobacco Monopoly (TTM) has been encouraged to expand its markets overseas including western countries, Deputy Finance Minister Tanusak Lek-uthai said today.
In his speech on the state agency’s 75th anniversary, he said the tobacco enterprise delivered Bt8.59 billion to Thailand’s state coffers last year – the largest contributor among state enterprises under the Finance Ministry’s supervision.
Its sales revenues last year were Bt70 billion, a slight increase from Bt69.8 billion in 2011.
TTM’s market share in Thailand is 33 per cent while the remainder are imported cigarettes at 12 per cent, smuggled cigarettes at 10 per cent and self-rolled cigarettes at 45 per cent.
Mr Tanusak said the Finance Ministry supports TTM’s penetration into overseas markets either as sole or joint manufacturer.
Krong Thip Premium, one of TTM’s top brands, has high potential for distribution in the West, he said, adding that the monopoly should also expand its dealer network in Southeast Asia to boost sales.
Managing Director Torsak Chotimongkol said TTM will open two new manufacturing plants with advanced technology with to emphasise tobacco growing development to boost planters’ earnings.
An expansion of locally-produced cigarettes will stem the growth of imported smoking products, he said.
