Egypt-based tobacco firms are looking to launch new brands after the cigarette price hikes, head of the cigarettes division at the Federation of Egyptian Industries (FEI) Ibrahim Embaby.
Companies are looking to offer new brands for low-income smokers at prices ranging between EGP 1 and EGP 18, Embaby highlighted in a phone call with Mubasher.
Moreover, new brands for medium-income smokers will be released at a price ranging between EGP 18 and EGP 29, while the prices of premium cigarettes will start from EGP 29, he added.
The recent cigarette price increases, following the introduction of the new national health insurance law, may not impact the sales volume, but it will push smokers to consume cheaper cigarettes that suit their lifestyle and income, he indicated.
It is worth noting that Eastern Co, Egypt’s monopoly cigarette maker, had raised the prices of its cigarettes by a minimum of EGP 1.50 per pack as of 12 June.