The head of the Egyptian Farmers’ Syndicate Hussein Abu Saddam says meat prices in the country are expected to rise by about 50 percent.
Saddam told press men that Egypt imports more than 50 percent of its meat, poultry, and fish and this is causing a price hike.
He explained: “The price increase will include all types of meat and dairy products as prices increase on breeders, adding that the price of rice crop would also increase due to its “gluttony for water.”
The head of the Egyptian Farmers’ Syndicate 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).”
“In addition, wheat rose over the last three days from 5,000 Egyptian pounds ($318.25) to 5,600 pounds ($356),” he said.
Abu Saddam further posited that there would be a significant increase in fish prices because 80 per cent of Egypt’s production is farmed fish.”
Contrariwise, Abu Saddam said fertilizers’ prices will not increase because there are four million tonnes of it subsidised by the government.
Egypt’s 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 Russo-Ukrainian war.
Bread prices in Egypt have recently skyrocketed, sparking a wave of anger among Egyptians. The government has, however, waded in and reassured the masses of price control to ensure meat prices remain subsidised and affordable.
Analysts have also predicted another ten percent increase in gasoline prices in April, which would increase the prices of public and private transportation, as well as the prices of all commodities, as the United States of America and the European Union have placed various forms of sanctions on Russian oil and gas, due to Russia’s ongoing military operation in Ukraine.