Egypt's cigarette monopoly, Eastern Company – whose cheaper 'Cleopatra' brand cigarettes have long dominated the market – has announced a fresh raft of per-pack price hikes of LE0.25 (roughly $0.04) on five of its second-tier cigarette brands, according to a company statement issued Tuesday.
The increases, which came into effect on Tuesday, coincide with reports of new tax hikes on cigarettes and alcoholic beer announced by Egyptian President Mohamed Morsi in December.
Per-pack price increases on the five cigarette brands will be as follows:
'Florida' cigarettes will rise to LE5.75
'Belmont' cigarettes will rise to LE5.75
'Boston' cigarettes will rise to LE6.50
'Lite' cigarettes will rise to LE6.50
'Cleopatra' (box) cigarettes will rise to LE3.50
Three companies are currently licensed to make and sell cigarettes in Egypt, led by the state-owned Eastern Company. Two foreign companies also operate in the local market: BAT-Egypt and Phillip Morris International, both of which use Eastern Company factories to manufacture their products.