The Eastern Company (EC) has increased the prices of its luxury cigarette products, with prices now ranging from EGP 20 up to EGP 350.
In a statement to the Egyptian Exchange (EGX), the company said that the price increase was put into effect from 6 September following approval by its Board of Directors on the same day.
The increases also reflect the price increases for some cigarettes with values ranging between EGP 20, EGP 25, and EGP 30 pounds. These include the Medianitos Masters, Toscani Special, and Toscani Mezzi brands.
The prices of other types of tobacco products went up by as much as EGP 70-EGP 80, as in the Medianitos Special plain and flavoured Medianitos special.
Other varieties also increased in the EGP 200 and EGP 250 price range, such as Robosto, Baronet, and the Corona Jose Barotolo Delux brands, whose price went up by EGP 350 from EGP 1,000.
It is noteworthy that the Eastern Company has raised the prices of all its cigarettes and molasses tobacco products several times during the past few years. The most recent of these price hikes occurred in February and March of this year.
On 26 February, the company raised the prices of all its cigarette products by EGP 1, followed by another increase in the prices of all tobacco products by EGP 0.5-EGP 3.
At the time, the company said that this increase was a result of Egypt’s Parliament amending the Value Added Tax (VAT) Law.
Last March, the company launched a new product of cigarettes called “Cleopatra Box”, at a price of EGP 10 for a box of ten cigarettes.