[ACCI-CAVIE] In Egypt, the poultry industry has been hit hard by inflation and the devaluation of the pound, which have driven up production costs over the past year. Despite this situation, several companies are still banking on the market’s potential.

In Egypt, Cairo 3A for Poultry, a subsidiary of the Cairo 3A agri-food group, is planning two investment projects worth £1 billion ($32.3 million) to develop its activities in 2024. This was revealed by Ali El Gamil, CEO of Cairo 3A, on 31 December 2023.

According to the local daily Daily News, £800 million ($26 million) will be allocated to the construction of a poultry processing plant. The new unit is planned to occupy an area of 3 hectares on a site based in the governorate of Sharkia.

The remainder will be used to finance the installation of new poultry fattening farms to increase the production of birds for slaughter. According to Ibrahim Wagdy, CEO of Cairo 3A for Poultry, these new investments should enable the company, which has around a 25% share of the frozen and chilled chicken segment, to consolidate its position in the industry.

They are also part of the company’s strategy to double its market share in the processed poultry products segment to 10%. While the company has recorded a decline of up to 40% in product sales in 2023, Wagdy says it is hoping for a 20-25% rebound in the new year.

Founded in 2017, Cairo 3A for Poultry supplies a diverse range of products including frozen whole chicken, cooked, pre-cooked, marinated chicken pieces such as thighs, drumsticks, wings and chicken breasts.

By SA