Philip Morris International (PMI) Egypt announced in a new price list released this Thursday (the 7th) that it will raise the prices of its tobacco products by 5 Egyptian pounds for the third time this year, according to Ahram Online on November 7th.
This company's adjustment will involve all varieties of HEETS and TEREAs, as well as traditional cigarette brands Merit, Marlboro, and L&M.
PMI has committed to displaying the latest prices, effective from Friday (8th), transparently on product packaging through a QR code feature to be introduced starting in 2022.
Ali Nevzat Karaman, General Manager of PMI Egypt and Levant region, stated that the company is committed to meeting the needs of adult smokers and nicotine users in Egypt, while also supporting their smoke-free future vision.
According to the new price list, a pack of Merit cigarettes has increased from 90 Egyptian pounds ($1.80) to 95 Egyptian pounds ($1.90). Marlboro has gone up from 84 Egyptian pounds ($1.70) to 89 Egyptian pounds ($1.80), while L&M cigarettes have risen from 64 Egyptian pounds ($1.30) to 69 Egyptian pounds ($1.40). At the same time, heated tobacco products HEETS Selections, HEETS Dimensions, and TEREAs have increased from 64 Egyptian pounds ($1.30) to 69 Egyptian pounds ($1.40), while the price of TEREApod has risen from 69 Egyptian pounds ($1.40) to 74 Egyptian pounds ($1.50).
According to reports, the last time PMI Egypt adjusted prices was in April of this year. Additionally, on Tuesday (the 5th), Egypt's largest tobacco producer, Eastern Company, also announced a 12% increase in the prices of its local products, including cigarette prices. In May, the company had announced acquiring a 14.7% minority indirect stake in Eastern Company.
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