Chicken competes with the dollar in Egypt at an unprecedented rate

Egypt has recently seen a significant increase in prices, especially meat and chicken prices, as the price of chicken has reached 30 pounds for the first time after its price was 4 pounds.

Poultry prices in Egypt rose over 60% in a year, reaching historic levels as a result of the depreciation of the Egyptian pound against the dollar, the global rise in feed prices following the Russo-Ukrainian war, and the “exaggeration” of prices by breeders and poultry brokers, according to according to the Federation of Chambers of Commerce, while the government is considering importing poultry to make up for the shortfall ahead of the Ramadan season.

The increase in poultry and chicken prices in Egypt comes as feed prices continued to rise, reaching an average of 21.5 thousand pounds per tonne at the factory floor, while chicken prices reached a record high, ranging from 28 to 32 pounds.

The head of the poultry department of the Cairo Chamber of Commerce, Abdel Aziz Al-Sayed, said that the price of white chickens was about 32 pounds, and this increase is unjustified: prices have returned to normal.

He added that the fair price of a chick should be £16, justifying that the actual cost of the hatchery is £10, in addition to £3 in profit and £3 in compensation for losses that have occurred during recent months.

He noted that the actual cost of a kilogram of poultry is about 65 pounds on farmland, compared to 80 pounds at present.

Source: Egyptian media

Related Stories

Leave a Reply