12:28 a.m. Friday, August 11, 2023
Books – Mahmoud Al-Toukhi
Bab Al-Bahr Street in the downtown area witnessed the largest crowd since the start of the crisis of high cigarette prices. For the first time in two months, cigarette shops are committed to selling at official prices. According to an updated list of prices in one of the shops in the wholesale market in Bab Al-Bahr, prices decreased by an estimated rate of more than 250%. The price of the local types (Super, Cleopatra, Box) to their official value, which is set at 24 pounds (to view the rest of the items, the price statement is attached).
On the contrary, a list dating back to mid-July included prices that were much higher than the current one. The price of local items reached 480 pounds per cartridge, 50 pounds per box (for unofficial selling prices for the rest of the items during the last period, the price statement is attached).
The new prices attracted tens of hundreds of customers, which led to large numbers of crowds gathering in front of the shops in Bab al-Bahr and the lines extending for tens of meters, as well as the occurrence of many stampedes that caused altercations and arguments between customers, which necessitated the presence of police officers to control the matter.
The announced prices, which were sold on Bab Al-Bahr Street yesterday evening, Thursday, are signs of a solution to the crisis, as a result of the decision announced by Hani Aman, CEO of the Eastern Tobacco Company, to pump about 8 million packs of cigarettes per day into the market, starting next week, after the company faced problems in The supply of raw materials during the last period, according to his statements, in which he indicated that the current crisis will end by next year.
During the recent period, citizens accused wholesalers on Bab Al-Bahr Street of exaggerating prices, which reached, as of Wednesday, 600 pounds for a cartridge, and 60 pounds for a box of local items.
Bab Al-Bahr Street is considered the most famous wholesale market for selling cigarettes in Egypt, and retailers frequent it daily. It is expected that the price drop witnessed by cigarette prices on the most famous street will transfer to retail stores within two or three days, according to one of the street merchants.
The merchant, who preferred to remain anonymous, attributes the reason for the price drop before the date set by the company – during the next week – to the inspection campaigns that raided merchants’ shops during the past Wednesday and Thursday. This prompted many merchants to get rid of the quantities they had in their stores.
The continuation of selling at the prices announced – yesterday evening, Thursday – on Bab Al-Bahr Street, according to the merchant, depends on the quantities that will be pumped from the company to the markets and the regularity of the daily distribution process.
2023-08-10 21:28:00
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