File Photo Packs of Marlboro cigarettes are displayed for sale at a convenience store in Somerville, Massachusetts. REUTERS
According to Imbabi, the retail price for its Merit cigarettes increased to EGP 52 from EGP 49; for Marlboro cigarettes it increased to EGP 48 from EGP 46; and for L&M cigarettes it increased to EGP 35 from EGP 34.
Imbabi said that for every extra pound, half is going to the state treasury.
On Sunday, the Egyptian state-owned Eastern Company for Tobacco increased the price of most of its local types of cigarettes by EGP 2.
This change in prices came in light of increased production costs and the decreasing value of the Egyptian pound against the dollar, Imbabi has said, pointing out that the price of foreign cigarettes in the local market is also expected to rise in the coming months.
This is the second price increase for local cigarettes in 2022. In March, Egypt’s top cigarette manufacturer announced an EGP 1 increase for three of its local brands amid the depreciation of the pound by 16 percent against the dollar at the time.