Vendors hoarding cigarettes to sell at higher prices in black market: Tobacco division

Ahram Online , Wednesday 26 Jul 2023

The Head of the Tobacco Division of the Federation of Egyptian Industries said some traders who are hoarding cigarette boxes to sell them at higher prices in the black market are behind current shortages.

Cigarettes
File Photo: Cigarettes are seen during the manufacturing process Reuters

 

In TV remarks with Sada Al-Bald TV channel on Tuesday, Ibrahim Imbabi called upon the country's supervisory bodies such as the parliament to intervene to stabilize cigarette prices.

Egypt produces via 51 factories 85 billion cigarettes every year which is more than enough to meet demand in the market, according to Imbabi.

Earlier in March, the state-owned Eastern Tobacco Company raised prices of cigarettes by an average of EGP 2-3 per pack.

According to the latest update of official prices, the Cleopatra Box (10 cigarettes) is priced at EGP 15, while a pack of CleopatraKing Size costs EGP 23 and a pack of Viceroy and Pall Mall cigarettes is now priced at EGP 33.

The prices for Cleopatra Soft Queen, Boston/Belmont, Cleopatra Box (white, black, and coloured), Cleopatra Mondial Switch, and Matossian cigarettes are EGP 24.

The Cleopatra pack is being sold at EGP 50 and a pack of LM at EGP 75 in the black market, the tobacco division head pointed out.

Around 18 million Egyptians over the age of 15 out of a population of more than 104 million smoke, according to recent official data.

The percentage of Egyptians over the age of 15 who smoke has dropped from 17.3 percent in 2020 to 16.8 percent in 2022, according to the data.

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