In a statement released today, Thursday, the Federation of Poultry Producers claimed that yellow corn—which does not include soy—is sold on the underground market for almost 3000 pounds more than the price that has been publicly disclosed. It is regarded as one of the most essential goods that Egyptians value and is necessary as a source of protein.
The General Union of Poultry Producers requests President Abdel Fattah Al-intervention Sisi’s regarding the severity of the situation the poultry industry is in, in light of the availability of raw materials required for the feed industry, and in light of the failure to release quantities of corn and soybeans from ports, through the release of the statement.
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The General Union of Poultry Producers’ Mahmoud El-Anany made an appeal to President El-Sisi regarding banks’ severe obstruction in releasing funds for corn and soy documents located in Egyptian ports, which resulted in a severe shortage of raw materials for feed factories’ feed. He emphasised that these actions pose a threat to the poultry industry. He foresaw the termination, suspension, and withdrawal of some manufacturers from the cycle of production.
Al-Anani emphasised that these practises endanger the wealth of the poultry industry by slowing production and driving up prices, while also pointing out that the Egyptian citizen cannot currently bear further price increases. As poultry prices rise, the burden placed on the Egyptian citizen will also rise.
Al-Anany invited the Federation to a news conference the next Saturday to learn more about the causes and effects of the crisis affecting Egypt’s poultry business, which threatens to kill off flocks, drain investment funds from the sector, and force farmers out of the production cycle.
The Union of Poultry Producers requests that the Central Bank provide dollars in order to protect the poultry industry’s riches.
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