FEI’s Tobacco Division warns of disruptions in tobacco production ...Egypt

The Tobacco Division of the Federation of Egyptian Industries warned against the cessation of cigarette and tobacco factories from production due to the reluctance of banks to open documentary credits required to import raw tobacco – the main component of the tobacco industry. The head of the division Ibrahim al-Embabi said that more than 23 factories will close after the Eid al-Fitr holiday, after they have used their entire stock of raw tobacco which is completely imported from abroad due to the ban on its cultivation in Egypt. Embabi said that implementation of the Central Bank’s decision issued last March prohibiting collection documents upon import and dealing with bank documentary cred

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