Local importers of Brazilian meat say their Brazilian suppliers have raised per-ton prices from US$3100 to US$3400 in a move that would likely translate into higher retail prices on the domestic market.
"This is not the first time for suppliers to raise prices abruptly," said meat importer Nader Sueilam. "Whenever this happens, we usually halt imports until they bring their prices down again."
Sueilam went on to point out that Brazilian meat was generally cheaper than its locally produced counterpart.
Currently sold for between LE21 and LE25 per kilo, Brazilian meat partially fills the gap between local production and local demand, the latter of which has continued to increase.
Translated from the Arabic Edition.
