Philip Morris backtracks on decision to raise its cigarettes prices in Egypt

Ahram Online , Sunday 16 Jul 2023

Philip Morris International (PMI) has made a sudden U-turn on its plan to increase cigarette prices in Egypt, just hours after the initial announcement.

File Photo: Packs of Marlboro cigarettes are displayed for sale at a convenience store in Somerville, Massachusetts. REUTERS

The American multinational tobacco company will postpone the price hike of EGP 3-5 until the approval of amendments to the value-added tax (VAT) that applies to its cigarette products, according to Ibrahim Imbabi, head of the tobacco and cigarette division at the Federation of Egyptian Industries.

As a result of the reversal, the current prices of Merit, Marlboro, and L&M brands will remain unchanged at EGP 59, EGP 54, and EGP 39 respectively, reflecting the latest price increase implemented by the company in April.

In March, the state-owned Eastern Company for Tobacco increased the price of its cigarette packs by two to three pounds for the first time in 2023 following two increases in September, and March of 2022.

The company also raised the prices of its Viceroy and the Pall Mall brands in May from EGP 33 to EGP 35 for the 20-cigarette pack.

Local cigarette prices

The Cleopatra Box (10 cigarettes) officially sells at EGP 15; a pack of the Cleopatra King Size EGP 23; and both the Viceroy and the Pall Mall brands now cost EGP 35.

Moreover, the official prices of Cleopatra Soft Queen, Boston/Belmont, Cleopatra Box (20 cigarettes), Cleopatra Mondial Switch and Matossian are EGP 24.

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