Companies Raise Cigarette Prices

Source from:  tobaccojournal.com 02 Sep 2008 09/09/2008

Eastern Tobacco has raised the price of some of its cigarette brands by EGP 0.25 (EUR 0.03) in Egypt while British American Tobacco (BAT) has revised its cigarette prices in Malaysia. Eastern Tobacco Company said in a statement the prices for Cleopatra Box, New Cleopatra Lites, Lite, Boston, Capitol, Super Star, Belmont and Golden King would rise. The new prices took effect on 1 September. "This increase is due to the rise in the prices of the products' raw materials. The previous price increase was not in our benefit, it was all paid in taxes," an official at Eastern Tobacco Company said. Similarly, BAT has increased the prices of its cigarette Dunhill, Kent, Pall Mall brands among others in Malaysia. The increase, according to a statement from the company, was the "result of the significant 20 per cent excise increase". The new prices range from MYR 7.50 (EUR 1.51) to MYR 10 for a pack of 20 cigarettes and MYR 5.50 to MYR 6.50 for a pack of 14 cigarettes. Previously, the Malaysian government had proposed that the excise duty on cigarettes be increased by MYR 0.03 per stick to MYR 0.18, effectively increasing the price of a 20-stick pack by MYR 0.60. The increase brought the total excise increase on cigarettes to 380 per cent over the last five years. Enditem