Shock.. Reasons for the high prices of popular and foreign cigarettes in Egypt

The "Philip Morris" international company decided to raise cigarette prices in Egypt. The company attributed the reason for the increase to the rise in production costs.

 The decision to increase came after "Eastern Tobacco", one of the largest cigarette and honey manufacturers in Egypt, announced an increase in its prices last March in the amount of 1 to 3 pounds in order to avoid losses due to rising costs.

Prices of Marlboro and Merritt cigarettes

The prices of "Mirt" cigarettes of all kinds rose to 59 EGP, and the prices of "Marlboro" cigarettes of all kinds rose to 54 EGP, and the prices of "L&M" cigarettes of all kinds to 39 EGP ($ = 30.95 EGP)

And the prices of heated tobacco products "Hits" increased to 48 Egyptian pounds, and Hits Dimensions to 50 EGP, and the company announced that the application starts today, Thursday, April 6, 2023.

Cleopatra cigarette prices

The Eastern Tobacco Company announced last March that the price of popular cigarettes would rise from 1 to 3 pounds, the price of (Cleopatra Box 10) became 15 pounds, (Cleopatra King Size) 23 pounds, (Cleopatra Soft Queen) 24 pounds, (Boston/ Blument) 24 pounds, (Cleopatra Box) (white/colors) 24 pounds.

And the company also decided to raise the prices of all kinds of tobacco, so that the price of a pack will range between 9 pounds and 85 pounds (equivalent to 0.29 to 2.76 dollars).

Reasons for the increase in cigarettes

The head of the tobacco division of the Egyptian Industries Association, Ibrahim Mbababi, said that the increase in the price of new cigarettes in Egypt also benefits the state treasury, as a result of the higher cost of taxes paid on cigarette packs, and benefits the comprehensive health insurance that is funded by cigarette taxes.

He added that the company "Philip Morris" raised the prices of cigarettes as a result of the high production costs and the difficulty of managing the dollar, which makes the companies unable to bear the burden of raising the costs, especially with the daily changes in prices.

In previous statements, the managing director and CEO of the Eastern Company, Hani Aman, said that the increase in cigarette prices comes as a result of the increasing and continuous increase in all production inputs, and the raw materials.

Raw material import crisis

  According to the company's statement to the stock exchange last week, in light of the raw material import crisis, the board of directors of the Eastern Smoke Company discussed new ways to secure the supply of raw materials; To avoid the impact on the production and sales processes, with the aim of meeting the requirements of the market,

The company explained that the current economic conditions affected the company's activity and the importation of raw materials. Especially with the gradual change in the exchange rate of the dollar against the pound, to record the average price of the dollar in the banks at the end of today's transactions 30.83 pounds for buying and 30.93 pounds for selling.