{"id":549105,"date":"2022-09-04T08:42:56","date_gmt":"2022-09-04T08:42:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/holy-smokes\/"},"modified":"2022-09-04T08:42:56","modified_gmt":"2022-09-04T08:42:56","slug":"holy-smokes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/holy-smokes\/","title":{"rendered":"Holy smokes"},"content":{"rendered":"

Shifting producer dynamics are shaking up the normally staid cigarette industry <\/strong>on this early September morning.<\/p>\n

Eastern Company reportedly plans to raise prices of key brands by as much as EGP<\/strong> 1.50-2.00 per pack today<\/strong>, according to Bloomberg Asharq<\/a>. The maker of Cleopatra and other popular brands last hiked prices<\/a> barely six months ago, when it moved to charge EGP 0.50 to EGP 1.00 more per pack at the koushk.<\/p>\n

Blame rising raw material prices and the FX situation<\/strong>, Eastern chief Hany Aman told the news service. The company has been hit with<\/a> supply chain snags and rising production costs.<\/p>\n

Retailers had expected Eastern to go for even larger price hikes<\/strong>, and Ibrahim Embaby, the head of the Federation of Egyptian Industries\u2019 cigarettes division, said he believes the price of foreign tobacco brands will rise in the coming months.<\/p>\n

MEANWHILE- Eastern appears set to wind down production of Philip Morris brands<\/strong> Marlboro, Merit and L&M<\/strong>, according to a report in Al Mal<\/a>. The newspaper reports that United Tobacco Company, a unit of Philip Morris, will begin making the international brands after Eastern finishes its current stock of raw materials.<\/p>\n

Background: <\/strong>United was the only bidder last year for the nation\u2019s second license to make tobacco products. Eastern said in May<\/a> of this year that it was acquiring a 24% stake in United as provided for under the terms of the tender for the license, which effectively ended<\/a> EGX-listed Eastern\u2019s absolute monopoly on the manufacturing of cigarettes. Eastern will have two seats on United\u2019s board. Aman told El Hekaya last night (El Hekaya | watch, runtime: 6:11<\/a>) that no \u201csovereign entity\u201d owns a stake in United.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shifting producer dynamics are shaking up the normally staid cigarette industry on this early September morning. Eastern Company reportedly plans to raise prices of key brands by as much as EGP 1.50-2.00 per pack today, according to Bloomberg Asharq. The maker of Cleopatra and other popular brands last hiked prices barely six months ago, when […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7255],"tags":[247,72,131,2354],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549105","post","type-post","status-publish","format-standard","hentry","category-manufacturing","tag-eastern-company","tag-enterpriseam","tag-manufacturing","tag-united-company","wpautop","entry"],"acf":{"mongo_id":"95ce197b-5c51-4f48-ad7b-f1c26a1c5801","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[549093],"teaser":"","voice_url":""},"yoast_head":"\nHoly smokes - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/holy-smokes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Holy smokes\" \/>\n<meta property=\"og:description\" content=\"Shifting producer dynamics are shaking up the normally staid cigarette industry on this early September morning. 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Mundial cigarettes now cost EGP 17.5 per pack and Black Label costs EGP 23 per pack. The increase is due to VAT, the company said.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566129,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/eastern-oriental-weavers-report-rising-profit-oza-sees-geopolitics-weighin-on-egyptian-shares\/","url_meta":{"origin":549105,"position":1},"title":"Eastern, Oriental Weavers report rising profit + Oza sees \u201cgeopolitics\u201d weighin on Egyptian shares","author":"enterpriseam admin","date":"30 May 2021","format":false,"excerpt":"EARNINGS WATCH- Eastern Company posted a 47% increase in its bottom line in 3Q2020-2021, reporting earnings of EGP 1.35 bn from EGP 914.19 mn in the same period a year earlier, the company said in an earnings filing (pdf). Revenues rose in the company\u2019s third quarter to EGP 16.1 bn\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626581,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/eastern-company-raises-local-cigarette-prices-by-egp-3-25-per-pack\/","url_meta":{"origin":549105,"position":2},"title":"Eastern Company raises local cigarette prices by EGP 3.25 per pack","author":"enterpriseam admin","date":"5 July 2018","format":false,"excerpt":"The Eastern Tobacco Company hiked prices of four of its local cigarette products by EGP 2.00-3.25 per pack, according to a company statement picked up by the local press. 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