Following the Egyptian Central Bank’s decision to hike interest rates by around 2% in a special meeting yesterday, Thursday, interest rates on deposits and loans rose today, Friday, to 13.5% and 14.5%, respectively.
As part of the implementation of the state plan to advance the poultry wealth sector, the Cairo Chamber of Commerce’s poultry wealth division is still keeping an eye on and tracking the price of eggs in the local market. One such strategy is to encourage the creation of integrated projects in the desert regions, where 9 regions in 4 governorates totaling 19 thousand Fedan have been designated for poultry investment.
Consumer egg carton prices currently range from 82 pounds for white to 80 pounds in my own country.
Today, the cost of white eggs for consumers increased and reached 82 pounds per serving (prices vary depending on the residential area).
Additionally, a red egg dish’s cost to the buyer increased by 80 pounds (and prices vary according to the residential area).
Municipal egg prices recorded an increase, at the consumer today to record 80 pounds per dish (and prices vary according to the residential area).
Mr.’s remarks suggest that
In order to reduce the intermediary rings between the consumer and the producer, as well as to control prices and get rid of merchants’ greed, Al-Qusayr, the previous minister of agriculture, has ordered that large quantities of poultry and eggs be made available in government outlets of the Ministry of Agriculture and Supply at fair prices.
The Central Bank stressed that this aims to achieve sustainable economic growth when it announced yesterday that it would increase interest rates on deposits and loans by about 200 basis points and support a free exchange rate policy that bases the value of the pound relative to other currencies on supply and demand.
During yesterday’s trade, the value of the pound relative to the dollar dropped by 16%, ending in the central bank from 22.
99 pounds, compared to banks exceeding 23 pounds in the private sector.
The Central Bank stressed that it does not target specific exchange rates, but rather is seeking to maintain the stability of prices.
A fresh cage in egg prices is urgently needed since the government decided to increase “interest.”
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