Egyptian bank offers finance for poultry projects

To support the growth of the domestic poultry sector, Egypt’s agricultural bank is offering loans to investors at a low interest rate. Production of both chicken meat and eggs needs to be stepped up significantly if Egypt is to supply the requirements of its growing population in the coming years.

Gabriela Pernecka, Freeimages.com
Gabriela Pernecka, Freeimages.com

In cooperation with Giza Chamber of Commerce, the Agricultural Bank of Egypt (ABE) has offered loans to fund small poultry projects.

The aim of the initiative is to increase the nation’s poultry production, reports Daily News Egypt. Loans — at a 5% declining interest rate — may be used to establish poultry farms or slaughterhouses. They form part of an initiative to support smaller projects from the state and Central Bank of Egypt.

Terms of the protocol are currently being developed, according to the head of the Poultry Division of the Giza Chamber. Included will be the formation of a committee to ease the application process for those wishing to access the finance.

Also involved in the collaboration is the General Association of the Poultry Producers of Egypt, as well as the Alexandria Chamber of Commerce.

Freedom from avian influenza opens export opportunities

One month ago, 14 poultry facilities in Egypt were officially accredited as free of avian influenza.

At the time, the country’s agriculture minister expressed the hope that the resumption of poultry product exports would stimulate investment in the sector. This trade had been halted since the first outbreaks of highly pathogenic avian influenza (HPAI) in 2006.

Egypt depends on imports to meet poultry demand. In 2019, this was among the top 10 food product categories imported by Egypt, according to a recent report from the USDA Foreign Agricultural Service (FAS).

Frozen chicken meat and offal to a value of US$83 million was imported into the country in that year. Leading suppliers were Brazil (82% of the total), and Ukraine (17%), reports FAS. The balance came from the U.S. and European Union. FAS reports that there in high demand for these products in Egypt, and limited domestic production.

Prospects for Egyptian poultry sector

Taking different scenarios, the United Nations’ Food and Agriculture Organization (FAO) has recently published livestock and fisheries policy targets for Egypt in the year 2050.

With a target to supply sufficient animal protein for a healthy diet to 150 million Egyptian in 30 years’ time, the study reveals that domestic production targets for meat, milk, and eggs will need to be raised by 74%, 290%, and 162%, respectively.

For eggs, national production will need to increase from the current level of 706,000 metric tons (mt) per year to 1.85 million metric tons (mmt), according to the FAO calculation. For chicken meat, the required increase is 121% – to 3.20mmt from today’s output of 1.45mmt.

Under the FAO scenarios, this level of productivity can only be achieved by, in effect, almost eliminating extensive production systems from both the country's poultry meat and egg supply sectors.

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