Bisnis.com, JAKARTA — PT Gudang Garam Tbk. (GGRM) has reportedly implemented a distinct pricing strategy compared to other cigarette producers, including HMSP, WIIM, Bentoel Group, and Djarum, following the government’s decision to maintain tobacco excise rates at current levels until 2026.

The move is expected to bolster profitability for the makers of Gudang Garam Merah, Gudang Garam Signature, Gudang Garam International, Surya, and Surya Pro in Q4/2025. However, analysts warn that the strategy carries the risk of lower sales volumes amid subdued consumer purchasing power and a persistent shift toward illegal cigarette products.