09 March 2022; MEMO: Meat prices are expected to rise about 50 per cent in Egypt, the head of the Egyptian Farmers' Syndicate announced yesterday.
Hussein Abu Saddam told local media that Egypt imports more than 50 per cent of its meat, poultry and fish and this was causing prices to increase.
"The rise will include all types of meat and dairy products as prices increase on breeders," Abu Saddam pointed out, adding that the price of rice crop would also increase due to its "gluttony for water."
The official noted that the price of yellow corn, one of the most important fodders, had risen from "4,000 Egyptian pounds ($254) to 8,000 pounds ($508)." "Even wheat bran rose over the last three days from 5,000 Egyptian pounds ($318.25) to 5,600 pounds ($356)," he said.
Abu Saddam explained that fish prices would also rise "significantly because 80 per cent of Egypt's production is farmed fish."
"Fertilizers' prices won't increase though because there are four million tonnes of it subsidised by the government," Abu Saddam noted.
Finance Minister, Mohamed Maait, recently warned that the cost of imported wheat would rise by 12-15 billion Egyptian pounds ($763-$954 million) in the state budget, following the Russian war on Ukraine.
Bread prices were recently reported to have surged, sparking a wave of anger among Egyptians. The government has, however, pledged to control the price of subsidised bread.
Analysts predict another ten per cent increase in gasoline prices in April, which would increase the prices of public and private transportation, as well as the prices of all commodities.
