KYIV, Dec 6 – Philip Morris Ukraine says it loses 10% of its production volumes annually and produces almost 2 billion cigarettes fewer than the previous year, Managing Director of Philip Morris Ukraine Michalis Alexandrakis said.

"Due to a sharp increase in illegal trade, the market share is not the only indicator to focus on. Manufacturers who have most of their products in the lower value segment of the market have difficulties competing with illegal products because of their lower prices. Our company is losing 10% of our volumes annually, and producing almost 2 billion fewer cigarettes a year," he said.