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Poultry Union Leader: Price Gains Lower Losses
The President of Egypt's Poultry Producers Union stated that the market experienced a surplus in production during the recent period, leading to a decline in prices and reduced profits for producers. Currently, with supply and demand being balanced, prices have improved and approached the production costs, alleviating some of the losses and causing some producers to enter new cycles. The industry faces significant challenges due to rising feed costs, especially since it relies on imported corn, which has increased in global prices, as well as the impact of the Russia-Ukraine war on shipping and insurance costs. The sector is seeking to export the excess to external markets to support the industry's continuity and meet the local market's demand for delicious, affordable protein.
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