Egypt’s state-owned tobacco giant, Eastern Company, imposed a 22 piaster price increase on its domestic cigarettes, effective Friday 12 July.
The adjustment was revealed in a disclosure the company submitted to the Egyptian Exchange (EGX), made public on 14 July. The price adjustment complies with Health Insurance Law No. 8 of 2018, according to Eastern Company.
A pack of 10 Cleopatra Box cigarettes will now cost EGP 25 (USD 0.52), up from EGP 24.5 (USD 0.51). The company’s most affordable and popular brand, Cleopatra, will see its 20-cigarette packs priced at EGP 34.72 (USD 0.73), compared to the previous EGP 34.5 (USD 0.72). The new prices apply across all Cleopatra variants, including Cleopatra King Size, Cleopatra Soft Queen, Cleopatra Box (white colors), Cleopatra Super, and Cleopatra Black Label.
Meanwhile, prices for other brands such as Viceroy and Pall Mall remain unchanged at EGP 55 (USD 1.15) for a 20-cigarette pack. The price hikes, however, extend to brands like Mondial, Boston, Belmont, and Matossian.
This change marks the third adjustment in 2024, following previous price hikes in February, when prices were raised by EGP 2 (USD 0.04) to EGP 8 (USD 0.17), and in April, as cigarette packs saw a rise of EGP 5 (USD 0.1) in April pushing the price of a 20-cigarette Cleopatra pack from EGP 30 (USD 0.63) to EGP 34.5 (USD 0.72).
Hany Aman, CEO and Managing Director of Eastern Company, attributed the adjustment in cigarette prices, back in April, to a significant increase in raw material costs, which surged due to fluctuations in the Egyptian pound’s official exchange rate against foreign currencies.
Egypt’s annual inflation rate extended its decline for the fourth consecutive month, registering 27.1 percent in June 2024, down from 27.4 percent in May, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). However, June saw a monthly inflation uptick of 1.8 percent, a reversal from the previous month’s -0.8 percent.
While the price of Cleopatra cigarettes has more than tripled over the past decade, they remain a viable option for lower-income smokers.
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