The present invention is related to a binder for letterpress printing inks, comprising a resin which is a modified condensation product of phenol and formaldehyde, said modified condensation product having a molecular weight ranging from 300 to 10 millions, with more than 24% of the product having a molecular weight above 1 million, and a melting point of at least 130.degree. C., and an absolutely aromatic-free solvent. Moreover, the present invention is related to a letterpress printing ink comprising said binder, in which all components are complying with the German Tobacco Regulation, in particular at least one food grade colorant. The binder and the ink are useful for direct cigarette printing.