Egypt: Weak demand for purchasing poultry before Ramadan due to the increase in prices

Market & Price Trends
Published Mar 4, 2024

Tridge summary

The poultry market in Egypt is witnessing a slump in demand ahead of Ramadan due to a surge in prices, says Sameh Al-Sayed, head of the poultry division at the Giza Chamber of Commerce. The cost of white poultry has risen to 95 pounds per kilo at farms and 105 pounds per kilo in markets, coinciding with a hike in feed prices. However, the average price of a ton of fodder has dropped by around 5,000 pounds from the previous week, influenced by a decrease in the dollar's value on the black market.
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Original content

Written by: Sherine Salah: Sameh Al-Sayed, head of the poultry division at the Giza Chamber of Commerce, told Masrawy that the market is witnessing a state of weak demand for purchasing poultry before the month of Ramadan, due to the rise in prices this year. According to Al-Sayed, the price of a kilo of white poultry on Sunday at the farm recorded about 95 pounds, at the same levels as last week, to be sold in the markets to the consumer at about 105 pounds per kilo. Poultry prices witnessed an increase this year in the markets, coinciding with the rise in feed prices. Today, Sunday, the average price of a ton of fodder (a mixture of yellow corn, soybeans, and other proteins) fell by about 5,000 pounds compared to the prices of the previous week, according to Sameh Al-Sayed. The execution price of buying and selling the dollar on the black market during the middle of Sunday’s trading recorded about 39 pounds, down from the level of 45 pounds yesterday, Saturday. This is due to ...
Source: EGmasrawy
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