Egypt’s food prices likely to elevate amid Sudan crisis: Report
Updated 5/14/2023 9:29:00 AM
Arab Finance: Food prices in Egypt are expected to see a striking surge due to limited food supply amid the current conflict in Sudan, according to a report jointly issued by the US Department of Agriculture’s Foreign Agricultural Service (FAS) and the Global Agricultural Information Network (GAIN) on May 10th.
Egypt is seeking other suppliers of cattle and other products, including Somalia and Chad, to compensate for the supply deficit, the report read.
In 2022, Egypt imported 110,000 live animals and 10,000 metric tons of beef from Sudan.
The report projects the Sudan crisis to weigh on Egypt’s consumer prices, while the Egyptian government is grappling with rampant inflation.
It stated that the price of beef now ranges between EGP 350 and EGP 400 per kilo, compared to a price between EGP 150 and EGP 200 last year.
However, creating new opportunities for US beef suppliers is unlikely to happen amid the current crisis. Yet, the US’ poultry exports to Egypt could be affected indirectly, the report stated.
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