On March 25th, Egypt's state-owned Eastern Company announced a 2-3 Egyptian pound (equivalent to approximately 0.44-0.66 yuan) increase in the average price of each pack of cigarettes, cigars, and pipe tobacco.
Ten packs of Cleopatra cigarettes are currently selling for 15 Egyptian pounds (about 3.3 yuan), while a pack of Cleopatra King Size is priced at 23 Egyptian pounds (about 5 yuan). Viceroy and Pall Mall cigarettes are selling for 33 Egyptian pounds (about 7.3 yuan) per pack.
The prices of Cleopatra Soft Queen, Boston/Belmont, Cleopatra Box (in white, black, and color), Cleopatra Mondial Switch, and Matossian cigarettes have all increased to 24 Egyptian pounds (approximately 5 yuan) per pack.
This is the first price increase for the company in 2023, following two previous increases in September 2022 and March 2022.
According to reports, the state-owned Eastern Tobacco Company of Egypt was established in 1920 and is the largest tobacco producer in Egypt.
The revenue of Eastern Company increased by 6% in 2022, reaching 67.9 billion Egyptian pounds (approximately 15.1 billion Chinese yuan), higher than the 63.8 billion Egyptian pounds (approximately 4.2 billion Chinese yuan) of the fiscal year 2021.
In September of last year, a subsidiary of Philippine-based company PMI partnered with tobacco company UTC to begin producing cigarettes in the Egyptian market. This marked the end of decades-long monopoly on cigarette production by a single company.
Reference:
Local cigarette prices in Egypt have increased by EGP 2-3 per pack.
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