Poultry prices expected to decline in Egypt by the end of 2024

CAIRO – 27 February 2024: The CEO of Cairo 3A Poultry Company, Ibrahim Wagdy, has expressed optimism about a potential decline in poultry prices during the last quarter of 2024. This forecast is based on several factors, including lower feed prices, an increase in supply, improved veterinary treatments leading to a decrease in the rate of dead poultry, and enhanced production capabilities.

To bolster its operations, Cairo 3A Poultry recently inaugurated its poultry processing factory in the Tenth of Ramadan City's industrial zone. The company invested a substantial amount of EGP 600 million into the facility, which has an initial production capacity of 9,000 tons per year.

In an interview with Asharq Bloomberg, Wagdy explained that Cairo 3A Poultry has successfully bridged the chicken supply gap in Egypt, which stood at 50,000 tons. The company's current production has reached 62,000 tons, and the target is to further increase it to 70,000 tons. Additionally, Wagdy revealed the company's plan to raise the proportion of storable frozen chicken from the current 10% to 30% of its total production.

Looking ahead, Cairo 3A Poultry aims to expand its market reach through exports. Wagdy disclosed that approximately 25% of the company's future production will be directed towards the Gulf and African markets within the next two years. This move signifies the company's commitment to tapping into international opportunities and further strengthening its position in the poultry industry.