Morocco’s Poultry Sector To Lose $443M To COVID-19 In Six Months

Prices of poultry in Morocco is rising but the remarkable increase has reduced demand, creating an estimated $443M loss in six months.

The President of the Interprofessional Federation of the Poultry Sector (FISA), Youssef Alaoui, confirmed the increase in chicken prices, attributing it to the restriction imposed by the Moroccan government due to the coronavirus pandemic.

Prices of chicken reported rose recently to MAD 18.5 ($2) per kilogram.

Some shop owners have decided to close because they do not have enough resources to buy stocks or because they know the demand for chicken will fall due to rising prices.

Citing data from FISA, Alaoui said Morocco’s poultry sector activity achieved a turnover of MAD 32.5 billion in 2019, generating over 530,000 direct and indirect jobs. It, however, suffered a drastic drop in demand of -40%.

Your Friends Also Read:  Eight Arrested in Uganda Over Living Costs Protest

The decrease is due to a lack of demand as scores of restaurants were closed due to COVID-19 lockdown, with restrictions on weddings and other gatherings further exacerbating it.

Losses in Morocco’s poultry sector are estimated at more than MAD 4 billion ($443 million) over the past six months.

“The COVID-19 crisis has impacted the entire industry. The breeder sells his chickens at a price of MAD 8/Kg at the farm for a cost price of MAD 14/kg,” Alaoui said.

FISA called on reviewing the tax status of poultry farmers and their reclassification in the agricultural sector.

The group also recommended the reopening of weekly souks.

Your Friends Also Read:  Business Edge | South Africa is World’s Most Unequal Society

Moroccan authorities decided to close several souks across the country due to the increase of the COVID-19 pandemic, aiming to limit the spread of the virus in marketplaces.

According to Morocco’s Ministry of Agriculture, the poultry sector typically provides for the creation of 98,000 direct jobs and 225,000 indirect jobs.

Morocco’s poultry sector generates MAD 21 billion ($2.27 billion) per year, with total investments estimated at MAD 8.7 billion ($941.9 million).

The ministry added that the country produces 320 million chickens and 7.8 million turkeys annually.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Main opposition group in Sudan rejects the general strike call



Leave a Reply

Previous Article

Oil price dips as Libya plans output return.

Next Article

29 Ugandan Returnees Test COVID-19 Positive

Related Posts
Powered by Live Score & Live Score App