Chicken and poultry prices in Egypt have experienced their first drop in over a year after the government imported more than 100,000 tonnes of frozen chicken from Brazil. The move came after steadily rising prices that had made beef and chicken unaffordable for many Egyptians.
The imported chicken, which was sold at discounted rates to low-income Egyptians through the Ministry of Supply and the armed forces’ outlets and at chain hypermarkets, sold out quickly. Demand for the imported chicken was high, particularly as it costs about 35% less than locally raised poultry. The lower prices led local poultry sellers to drop their prices by about 10 Egyptian pounds by Monday morning.
Why poultry prices in Egypt are so high
The Egyptian poultry industry has been struggling for some time, with a shortage of feed created by government import restrictions and a drop in supply leading to higher poultry prices in Egypt. Farmers have repeatedly asked the government to step in and subsidise corn and soybeans, the two main components of chicken feed.
The government has increased the planting of these crops and released shipments of them held up at ports, but this is not expected to have a significant impact on the industry for several months. Egypt imported an average of 50,000 tonnes of chicken per month last year, while Egyptians consume an average of 180,000 tonnes per month.