Eastern Company Announces Fourth Egypt Price Hike on Cigarettes in 2024 ...Egypt

Egyptian Streets - News
Eastern Company Announces Fourth Egypt Price Hike on Cigarettes in 2024
source : Egyptian Streets ( Egypt ) () 46
Eastern Company, Egypt’s leading tobacco producer, announced on Tuesday, 5 November, that it would be raising prices on all its locally produced cigarettes, including Cleopatra and other popular brands, by an average of 12 percent.  This marks the company’s fourth price hike in 2024, following increases in February, April, and July. The new prices aim to alleviate rising production costs caused by the depreciation of the Egyptian pound against the US dollar, escalating raw material expenses, and increased shipping costs, confirmed by Youm7 (Day 7).  Eastern Company noted that raw materials, including tobacco, make up over 75 percent of total production costs, excluding taxes, creating a sign

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