“Meat Prices in Egypt on the Rise: Why and What to Expect”

06:54 PM

Friday, May 19, 2023

I wrote – Dina Khaled:
Red meat prices increased by 20 pounds during the past days in the markets, to exceed 400 pounds in high-end areas, while meat prices in popular areas stabilized at the same levels as last month, according to Haitham Abdel Basset, deputy head of the butchers division at the Cairo Chamber of Commerce, to Masrawy.

According to Abdel Basset, the price of a kilo of municipal meat rose to between 420 pounds in high-end areas, compared to 400 pounds before the increase, and the price of a kilo of meat in commercial chains reached 450 pounds.

Abdel Basset added that the price of a kilo of kandouz currently ranges between 360 and 380 pounds in popular areas, without any change from the prices of last April.

Abd al-Basit explained that the butcher in the popular areas suffers great losses, because he cannot raise the price similar to the shops in the high-end areas, due to the poor purchasing power of the residents of these areas.

Abdel Basset attributed the reason behind the rise in meat prices to the increase in fodder prices, the lack of livestock supply, and the rise in existing prices to 160 pounds, compared to 145 pounds a week ago.

Feed prices jumped in the markets during the past months as a result of the accumulation of large quantities of them in the ports (before the solution to the crisis of stockpiling goods in general at the end of last January), which created a crisis in the poultry and livestock system, given the dependence of the two systems in breeding on the quantities of feed for nutrition.

The price of a ton of raw feed currently ranges from about 27 thousand pounds per ton, while the price of a ton of yellow corn ranges between 14,800 and 15,000 pounds, and the price of a ton of soybeans reaches 39,000 and 39,500 pounds.
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. Mostafa Madbouly announced last January that the problem of stockpiling goods had ended and conditions had returned. in ports as normal.

Abdel Basset said that the meat market is witnessing a state of stagnation and calm in the buying and selling movement, which prompted some merchants to extend the Eid holiday so far due to stagnation and loss as a result of the inability to raise prices because it will lead to lower demand.