03:24 PM
Saturday, February 11, 2023
I wrote – Dina Khaled:
Mohamed Rashad Qarni, deputy head of the Poultry Division at the Cairo Chamber of Commerce, told Masrawy that the prices of white poultry rose in the market by about 5 pounds compared to what they were last week.
Qarni added that the maximum price per kilo of live white poultry reached about 90 pounds today, Saturday, in the market, compared to 85 pounds at the end of last week, an increase of 5 pounds. The price of a kilo, packed and cooled, ranged between 110 and 115 pounds.
He mentioned that the price of a kilo of paneer was recorded between 180 and 190 pounds in the market, the price of a kilo of thighs was about 95 pounds, a kilo of wings about 75 pounds, and a kilo of legs between 15 and 20 pounds.
Qarni attributed the reason behind the price hike to the lack of supply of poultry in the market, especially after a large number of breeders left the system after the crisis of high fodder prices and their unavailability due to the documentary credits crisis last year.
Last February, the Central Bank issued a decision to stop dealing with collection documents in all import operations and to use letters of credit instead, before rescinding this decision at the end of last year.
Importers and manufacturers suffered during the last period from a crisis of lack of production requirements due to the delay in opening documentary credits, and the slowness in managing currency by banks, according to importers and manufacturers who spoke earlier to Masrawy, but Dr. Mustafa Madbouly announced on Saturday before last that the problem of stockpiling goods had ended and conditions had returned in ports as normal.
The feed shortage crisis during the last period, due to the problem of the accumulation of goods in ports with the dollar shortage and the application of the documentary credits system, prompted some poultry farms to cull quantities of chicks, which sparked widespread controversy prompting the government to seek quick solutions to the crisis.
Qarni pointed out that the demand for poultry is very weak due to the high prices and the weak purchasing power of citizens.
Egypt produces about 1.6 billion birds annually, and this production achieves self-sufficiency by about 95%, and the gap between production and consumption does not exceed 5%, according to data from the Poultry Division previously.
