Egyptian cigarette maker raises prices of some tobacco products

CAIRO – 2 March 2020: Egypt’s top cigarette maker told the Egyptian Bourse its decision to officially raise the selling price for some products of the state-owned company, including molasses (mu’assel) and minced tobacco, by a range of LE 0.5 ($0.032) to LE 3 ($0.19).

The Eastern Company’s (SAE) decision is based on a decree issued by the finance minister in late February. It comes few days after the parliament passed amendment of some provisions of the value-added tax law.

The mu’assel is a tobacco-based mix that contains molasses, used in smoking hookah (shisha).

According to the decision, the new prices of the mu’assel of “Salom & Kas” (500 gram), Abo Negma (500 gram), One for You (250 gram) and Minced Tobacco will be LE 32 ($2), LE 26.5 ($1.7), LE 48 ($3.1) and LE 32 ($2) respectively.

Eastern Company supplies about 70 percent of Egypt's cigarette market, according to circulated figures.

In August last year, the company decided to raise the cigarette prices by 4.5 to 6 percent.