Tobacco Prices Will Increase by 17% Annually Over Next Five Years

Egypt’s largest tobacco producer, Eastern Company, will increase tobacco prices by 17% annually over the next five years.

This decision is expected to increase the revenues of the state-owned company by 78% by the end of 2028.

An anticipated increase in taxes on cigarettes has disrupted the local supply of cigarettes over the past couple of months, resulting in a parallel increase in their prices on the Egyptian market. Egypt’s exports of tobacco have reached an all-time high of USD 35.8 million during the first four months of 2023.