Local meat prices continue to skyrocket

Prices for domestically-produced meat continue to rise, currently ranging between LE52 and LE55 per kilo, amid widespread expectations that per-kilo prices would soon reach LE60.

The market has also recently witnessed a 30-percent jump in the price of processed meats, due to increases in costs for imported meat and poultry, in addition to increased shipping costs.

According to merchants, the price increases have been due to shortages of frozen imported meat coupled with a desire by some importers to take larger profits, along with increased prices for meat substitutes.

“We’re seeing significant jumps in price for all types of processed meat,” said Mohamed Farag Amr, the president of a local meat processing company. He argued that the increases were due to “successive hikes in the price of ingredients, especially meat itself, which has risen by 33 percent in recent months.” 

“These price rises are linked to steady increases in shipping and transportation costs,” Amr added. “Most ingredients are imported from abroad, especially meat and poultry.”

He went on to note that his company’s production had increased between 5 and 10 percent in recent months, despite rising costs.

Translated from the Arabic Edition.

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