FEW TAKERS FOR EID CATTLE IN EGYPT
New prices putting off even those who bought cattle in previous years
THE cattle traders in the Ashmun market, north of the capital Cairo, jostled to lure customers into buying a buffalo or a sheep for Aidiladha, the annual Muslim holiday when custom requires a sacrifice.
But this year, with inflation in Egypt hitting record highs, customers seemed more interested in gawking at the cattle than buying any ahead of the first day of Aidiladha.
“Last year, there was more business. This year, no one wants to buy cattle because of the increased prices,” said one trader, Mohammed Masoud.
The cost of everything had gone up in Egypt since the country floated the Eygptian pound late last year — decreasing its value to the dollar by half — and raised fuel prices.
Masoud fed his livestock fodder that cost E£2.50 (RM0.60) a kg before the currency was floated. It now costs him E£7.
“A calf that cost E£15,000 last year now costs E£30,000.”
Meat has always been a luxury to many in a country where poverty is rampant, but the new prices are putting off even those who had bought cattle in previous years to sacrifice on the first day of Eid.
“Even if people want to buy meat, a kilogramme costs E£130,” said Nasser Abou Kila, who had come to the market here after spending two weeks trying to find a better deal elsewhere.
Butchers who buy from large markets, such as the one in Ashmun, also have to factor in increased transport prices.
“Last year, it cost E£100 to E£150 to transport a head of livestock to Cairo. This year, it costs E£400,” said one butcher, Said Masoud.
“There is no comparison with the last Aidiladha,” said another butcher in Cairo.
“It was E£85 for a kg then and now it’s E£150 to E£160.”
Customers said they were feeling the impact.
“To buy 2kg for two days, you have to pay E£300, and that’s just for meat,” said Naglaa Rajab, a housewife in her 30s.
The government of President Abdel Fattah al-Sisi, a former army chief elected after he overthrew his Islamist predecessor in 2013, said it had no choice but to undertake the tough economic measures.
But it was mindful of the strain the reforms were putting on Egyptians, many of whom could barely scrape by every month.
The Agriculture Ministry said it would offer about 50,000 heads of cattle at cheaper than market price, at a discount of between E£5 andE£10 per kg.
“We’re keen that every citizen should have the right to reserve a head of cattle for sacrifice,” said ministry spokesman Hamed Abdel Dayem.
But in a country where 28 per cent of the 93 million population lived under the poverty line and with inflation squeezing the middle class, fewer Egyptians would be buying livestock.