Meat prices decreased by 20 percent in the local market, Head of the Butchers Division at Cairo Chamber of Commerce Mohamed Wahba told Egypt Today Wednesday.
Wahba attributed the decline to the weakened purchasing power of Egyptian families, who direct most of their expenses to education, and to an increase in the supply of meat in the market.
“Prices have dropped by more than 30 percent in other governorates,” Wahba said.
Egypt’s imports of meat declined 20.3 percent to reach $113.2 million in May, compared to $142 million during the same period last year, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).
Egypt was ranked among the five cheapest countries in regards to prices of meat, chicken and fish, according to the British publisher Caterwings.
The 2017 Meat Price Index was conducted by Caterwings, which, according to their website, was carried out by analyzing meat prices in every country’s top cities and comparing them to the minimum wage of each country and its affordability.
The average meat price in Egypt was $7.1; chicken was $3.59, $8.22 for white fish and $28.5 for salmon. Source: Egypt today