Egypt poultry imports down 60% in March
High shipping costs, global prices contributing to problem
Egypt experienced a 60% decline in the import of frozen poultry, from 10,000 tons to 4,000 tons, during the month of March, according to Egyptian importers.
A 30% rise in shipping costs, increased security risks in the Middle East, increased bank fees and the increased value of the U.S. dollar, on top of global increases in prices, have all contributed to the issue, said Khalid Fathallah, vice chairman of the Alexandria Chamber of Commerce.
Other meat imports declined in March to 6,000 tons compared to a normal monthly average of up to 20,000 tons (a 70% decline), according to Ahmed Sakr, an Egyptian importer. Global price hikes have affected the local market, bringing the price of one kilogram of Brazilian meat to around LE30 (US$5.03), as compared to LE23 (US$3.86) in late 2010.