CYPRUS
Rise in tobacco sales

Cyprus has experienced a huge hike in tobacco sales between March and April 2020, which is a stark contrast to other consumer goods, reports Cyprus Mail.

Research group Retail Zoom carried out a report that showed the sale of loose tobacco went up by 28 per cent and cigarette sales increased by 12 per cent during the first national lockdown in Spring.
This could be down to the government closing all checkpoints in the north in order to stop the coronavirus from spreading during lockdown, according to Cyprus Mail. Many Cypriots travel to the north on a regular basis to buy illegal tobacco and cigarettes at a much lower cost. With the checkpoints closed, it is thought that many had to go down the legal route instead and buy their tobacco items full price.
According to Cyprus Mail, the report shows that cigarette sales went up from EUR 23 million (USD 26.9 million) in February to EUR 28 million (USD 32.7 million) by the end of May. Loose tobacco skyrocketed from EUR 3 million (USD 3.5 million) to EUR 4.5 million (USD 5.3 million) in the same period of time.
According to KPMG, the illegal tobacco market cost the Cyprian state a total of EUR 28 million (USD 32.7 million) in revenues in 2019 – the highest ever recorded rate in the country to date.

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