After one year of market investigation, the Competition Authority initiated ex officio proceedings against MIKA KORÇA JSC, a company active in the market of tobacco production, processing and exportation.

MIKA KORÇA holds a dominant position on the tobacco market as the sole Albanian company exporting tobacco products and the only purchaser of tobacco from farmers. The authority has established that the prices at which farmers sell tobacco does not cover their high production costs. The average price paid by MIKA KORÇA is lower than the average price paid in the European Union. MIKA KORÇA pays only 60.1% of the average price paid for the same category of tobacco in Greece and Bulgaria.

A decision by the authority is awaited.

For further information on this topic please contact Srdjana Petronijević at Moravčević Vojnović i Partneri in cooperation with Schoenherr by telephone (+381 11 320 26 00) or email ([email protected]). The Moravčević Vojnović i Partneri website can be accessed at www.schoenherr.rs.