Eastern Tobacco to plant 50 acres of tobacco in Ethiopia
The Holding Company for Chemical Industries said that Eastern Tobacco will plant tobacco in Ethiopia, reported Al-Masry Al-Youm.
The move is a bid to combat the mounting problems faced by the company in getting tobacco supplies globally, a result of decreasing planted lands in addition to taxes imposed by European Union as well as lower imports of China.
Eastern Tobacco will receive from the Ethiopian government 50 acres as a first phase to start planting tobacco, which should reduce importing cost. The company imports 50,000-60,000 tons of tobacco (about $ 250 million) annually.