Philip Morris backtracks on decision to raise its cigarettes prices in Egypt

The American multinational tobacco company will postpone the price hike of EGP 3-5 until the approval of amendments to the value-added tax (VAT) that applies to its cigarette products, according to Ibrahim Imbabi, head of the tobacco and cigarette division at the Federation of Egyptian Industries.

As a result of the reversal, the current prices of Merit, Marlboro, and L&M brands will remain unchanged at EGP 59, EGP 54, and EGP 39 respectively, reflecting the latest price increase implemented by the company in April.

In March, the state-owned Eastern Company for Tobacco increased the price of its cigarette packs by two to three pounds for the first time in 2023 following two increases in September, and March of 2022.

The company also raised the prices of its Viceroy and the Pall Mall brands in May from EGP 33 to EGP 35 for the 20-cigarette pack.