CAIRO: “The price of poultry will increase by 25 percent within few days due to the oil price hike,” head of the Poultry Division at Federation of Egyptian Chamber of Commerce (FEDCOC ) Abdel Aziz Al-Saeed told Mubasher Sunday.
Saeed attributed the increased price of poultry to the rise of transportation fees between governorates, the possible hikes prices of feed and increased production costs.
The increase in poultry price will not only increase citizens’ burden but will also impact production rates, the farmers owners, and the sector as a whole.
Prime Minister Ibrahim Mahlab announced in Friday that the government will prevent the large increase of price of poultry by provide large quantities of meat, with 30 percent reduced prices and by tightening supervision on markets.
“Increasing the cost of production and the government imposing subsidized quantities of poultry will cause large loses to farm owners as well as negatively impact the production rate,” Saeed said.
During his meeting with FEDCOC officials Friday, Mahlab announced that the maximum increase in goods prices will be no more than a 2.7 percent only.
The increase in oil prices will negatively affect the price of goods and affect production rates, head of the Food Commodities Division at the Cairo Chamber of Commerce Ahmed Yahiya told The Cairo Post Saturday.
He said the lack of commodity exchange could lead to a monopoly and the government needs to come up with countermeasures to address the inevitable rise of the price of goods and production decline.
Egypt’s total investment in the poultry sector soared to 25 billion EGP, member of the Agricultural Committee for Poultry Wealth at the Egyptian Businessmen Association Mohammed Al-Shafie announced in April. Moreover, it provided a living for more than two million families, Al-Ahram Digital reported.
Shafie said the poultry sector’s share at the Gross Domestic Products soared to 35 percent and that the sector is including more than 7 percent of Egyptian citizens. Egypt achieved self- efficiency of poultry production since 2006 but the sector was slightly impacted by bird flu cases.