20 per cent rise in meat prices ahead of Eid

A report by the Chambers of Commerce Union early this month indicated that the rise in meat prices was due to the drop in meat supply in the market compared to the same period last year.

The vice president of the butchers division at the CCU, Haitham Abdelbaset, said that prices have risen due to the reluctance by farmers to establish livestock farms, which led to the lack of livestock supply in the market.

Simultaneously, the increase in demand in Ramadan and the approaching Eid Al Fitr has contributed to the price hikes, he said.

He pointed out that citizens are refraining from cattle breeding due to the high cost of production inputs, as well as the high feed prices and poor veterinary care. He expects that the rise in fuel prices will lead to a subsequent rise in meat prices by the upcoming Eid al Adha, probably reaching 30 per cent.

Similarly, poultry prices have witnessed a 20 per cent increase in Ramadan. According to Abdulaziz Alsayed, the chairman of the poultry division in the CCU, the price rise is due to the impact of the hot summer weather in Egypt which has led to the death of a large number of poultry in farms.