Filipino-owned tobacco company, Mighty Corp.vowed to purchase at least 10 million kilograms of tobacco products worth millions of pesos from farmers in the country.
In a letter of intent sent by Mighty's executive vice president Oscar Barrientos to National Tobacco Administration administrator Edgardo Zaragoza, he stated that the company will buy tobacco from farmers 100 percent more than the five million kilograms 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, a retired regional trial court judge, said.
The letter of intent, in effect, debunked critics’ allegations that MC has been importing raw materials from foreign countries at low prices and is no longer buying tobacco from local farmers.
He also said that the rival company has been spreading malicious lies against them. Mighty Corp's market shares surged to almost 20 percent of the low-priced cigarette brands last year from in 2012, which was the result of paying P8.2 billion in excise taxes.
In a letter of intent sent by Mighty's executive vice president Oscar Barrientos to National Tobacco Administration administrator Edgardo Zaragoza, he stated that the company will buy tobacco from farmers 100 percent more than the five million kilograms 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, a retired regional trial court judge, said.
The letter of intent, in effect, debunked critics’ allegations that MC has been importing raw materials from foreign countries at low prices and is no longer buying tobacco from local farmers.
He also said that the rival company has been spreading malicious lies against them. Mighty Corp's market shares surged to almost 20 percent of the low-priced cigarette brands last year from in 2012, which was the result of paying P8.2 billion in excise taxes.