July 26, 2011

Egypt poultry prices up ahead of Ramadan

Consumers in Egypt's capital city Cairo have complained of soaring food prices ahead of the holy fasting month of Ramadan, which starts on August 1.

The cost of staple food items such as poultry leaped nearly 30% since June, and some consumers have accused traders of price-gouging ahead of Ramadan.

"Night and day, each family sadly discusses rising food prices," said Ahmed Mahmoud, a government employee, adding that the price jump in commodities is making a deeper impact on Egyptian households, which spend more than half of their monthly budget on food alone.

Mahmoud said that he did not know how to cope with the price hikes, and that meeting the basic needs of the poor must be a Government priority.

In response to increasing food prices, the Egyptian Government has pledged to broaden its control over the market and arrest greedy traders.

Market analysts say the price increases are due to the heat wave during the past week which killed hundreds of thousands of chickens, as well as high inflation rates.

Butchers and poultry shop owners have also included rising animal fodder prices as a cause for the increase in meat and chicken prices.

Consumers have demanded the Government increase the nation's supply of meat and chicken in order to keep prices down.