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Smokeless Prices Increase

NEW YORK -- Reynolds American Inc.'s American Snuff Co. is raising prices on smokeless tobacco brands such as Kodiak and Grizzly, The Wall Street Journal reported.

The company's smokeless tobacco business is raising prices to wholesalers by 10 cents a can for most of its brands, a company spokesman told the paper. He declined to give current average prices for the brands.

This price increase comes just days after Altria Group Inc.'s U.S. Smokeless Tobacco Co. announced it was raising prices on Copenhagen and most of its other smokeless tobacco brands.

It will raise prices to wholesalers by 10 cents a can for most of its smokeless tobacco brands. The average retail price for Copenhagen last quarter was $4.15 a can, according to a separate Wall Street Journal report. Altria had previously cut prices to focus on growing market share, the report stated.

According to the Journal report, the price increase suggests Altria feels confident it has been able to strengthen the position of brands like Copenhagen in recent months and that it expects volumes to hold up despite the price increase.

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