Egypt cuts frozen poultry prices ahead of Ramadan

The Egypt Ministry of Supply and Internal Trade ordered a significant reduction of frozen poultry price at state-affiliated outlets and Ahlan Ramadan exhibitions, pushing the price down below the current rate of EGP 120 (RM10.05), yesterday.

Its Minister, Sherif Farouq said, the initiative is a part of a broader effort to secure strategic commodity stocks as well as provide goods at affordable prices ahead of the holy month.

According to Daily News Egypt, he highlighted a tripartite agreement between the Ministries of Supply and Agriculture and the Future of Egypt Agency for Sustainable Development aimed at importing poultry and its parts.

The supplies are scheduled to be available at outlets across the country before the start of the fasting month to meet local demand. 

The ministry helped in numerous developments in the social protection axis (credit photo: The Egypt Ministry of Supply and Internal Trade)

At the same time, Farouq was visited by the Prime Minister of Egypt, Mostafa Madbouly to review the ministry’s plans on the sugar industry development and the strategic reserve of essential commodities enhancement.

During the meeting, Madbouly emphasised the importance of executing development plans for production sectors– particularly sugar – that he identified as a strategic industry vital to national food security.

He directed that any obstacles facing the sector be removed, increasing production and maintaining market equilibrium.

In conjunction, Farouq said he has held a series of meetings with both state-owned and private sugar companies to monitor development plans and address challenges, ensuring sustainable production.

Minister of Supply and Internal Trade of Egypt, Sherif Farouq (credit photo: Daily News Egypt)

The ministry is also prepared to open two main “Ahlan Ramadan” exhibitions in Cairo and Giza this week following the field tours in Dakahlia and Alexandria last week.

These exhibitions are held to increase the supply of goods and lift the financial burden on citizens, ensuring the market is ready for Ramadan.

Madbouly concluded the meeting by emphasising the necessity of continued coordination between government entities to enhance market monitoring. 

He called for the expansion of outlets and exhibitions to ensure that high-quality goods remain available at fair prices to maintain market stability.