Eggs, poultry prices expected to drop after release of large amounts of fodders from ports

Egypt released a total of over $1 billion worth of fodder from Egyptian ports between 16 October to 19 January, El-Quseir explained in a statement on Tuesday.

These released amount equaled 2.1 million tons of fodders, including 1.5 million tons of corn and 623 tons of soybeans, El-Quseir noted.

Between 12-19 January alone, the minister added, the government released a total of 300,000 tons of fodders worth $135 million. This amount included 242,000 tons of corn worth about $87 million, and 55,000 tons of soybeans worth about $42 million.

"These successive large releases will have positive impacts on the decline in the prices of eggs and poultry and the stability of the markets," the statement quoted the minister as saying.