Egypt’s top cigarette manufacturer Eastern Tobacco Company said on Monday it raised the prices of some of its tobacco and cigar products by between 25 percent and 71 percent, Reuters reported.
The retail price of its red and green Matossian tobacco (40 grams) has increased to EGP 40, up from EGP 32, the company said.
The retail price of Petit Verona cigar has recorded EGP 45, instead of EGP 30.
The retail price of Corona jose bartolo has risen to EGP 1,350 per package, up from EGP 1,000.
The company's CEO Hany Aman told Reuters the company reviews its prices every three months and changes them based on studies when need be.
The company has a market share of about 70 percent, while foreign companies hold the rest.