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Tobacco Prices Will Increase by 17% Annually Over Next Five Years
Over the past couple months, an anticipated increase in taxes on cigarettes has disrupted the local supply of cigarettes.
Aug 08, 2023
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.
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