With the start of the school year in Egypt, the prices of table eggs in the local market continued to rise, ranging from EGP 47.5-48.5 in farms, amid expectations of a further hike in the coming period.
According to egg trade workers, the price of a carton of eggs in retail stores ranged between EGP 55-56, depending on the residential area.
An egg trader said that prices have increased since August, explaining that the egg distributors buy the egg carton at about EGP 49 and sells it to retail stores at EGP 52.
The trader stated that the trader gains EGP 2-3 per carton, covering the cost of distribution and operation, while the retailer sells it to the public for EGP 55-56.
Abdelaziz El-Sayed, Head of the Poultry Division of the Chamber of Commerce said that the price of eggs has been increasing for more than a month and a half due to the lack of supply and increased demand from citizens, explaining that the price of the white eggs reached up to EGP 47.5 per carton, while the red eggs reached EGP 48.5.
El-Sayed stressed that the rise in egg prices is due to the climatic changes that the country has been exposed to during the last period, which resulted in the death of large numbers of poultry. This in turn led to the reluctance of breeders to introduce flocks of laying chicks for breeding as a result of repeated losses.
The head of the poultry pision stated that there is a price gap between the price of the product in the farms and in the local market, as well as the start of the school season, were only two of the reasons why the prices of eggs rose in the market, yet, not the main reason for this hike.
He rather attributed the rise in prices due to the lack of supply after the many producers abandoned the business over the past period, specifically in the month of Ramadan, which led to a gap between supply and demand.
The volume of investments in the Egyptian poultry market is about EGP 90 billion, and it employs 3 million people, according to the Egyptian Ministry of Agriculture.
El-Sayed pointed out that the exit of the breeders from the local market was affected by the fluctuation in poultry prices during that period and the decline in the declared prices, noting that the current period prices will continue to rise despite the drop in fodder prices.
He confirmed that there is an EGP 300 decline in the price of the fodder, to range between EGP 7.950-7.850 pounds per ton, which represents a turning point during the coming period in the prices of poultry and its products in the local market.
According to data issued by the Chambers of Commerce, Egypt produces 1.4 billion poultry annually, while the volume of table eggs production reaches 13 billion eggs annually, and the average per capita share of poultry reaches 20 kilos per year.
The head of the poultry pision expected a decline in egg prices in mid-October with the start of production of new producers returning to the poultry market again.
Follow the latest news on Google News
