The Eastern Company, a large tobacco producer in Egypt, has increased the price of 10 types of its popular cigarettes, reports Daily News Egypt.
The new prices will be effective from 4 Sept, after the Board of Directors approved the price list in accordance with the provisions of the VAT Law and its amendments, as well as the Comprehensive Health Insurance Law No. 2 of 2018.
Eastern Company managing director and CEO Hani Aman attributed the increase to the rise in the prices of raw materials and imported raw materials in foreign currency. “We were careful to make the increase as low as possible,” he said.
The increases in cigarette prices ranges from EGP 1.5 (USD 0.08) to EGP 2 (USD 0.10) and affects popular brands like Cleopatra Box, Cleopatra Super and Mondial.