Eid Al-Adha Festivities Overshadowed by High Livestock Costs in Egypt

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As Egyptians prepare to celebrate Eid al-Adha and engage in the festive activities accompanying the holiday – such as family gatherings and indulging in savory meals, particularly the traditional sacrificial meat – they are facing unprecedented challenges. With the approaching holiday, interest in the prices of sacrificial animals in the local market has increased in parallel with other prices. Due to the recent devaluation of the Egyptian pound, which has seen it lose nearly 70 percent of its value against the US dollar, the cost of sacrificial animals has surged to record levels. This year, meat and livestock prices have surged by around 30 percent, reaching a little over EGP 400 (USD 8.4), compared to May last year’s highest, EGP 307 (USD 6.4)  Sales have been low this year compared to last year, according to a livestock seller in Cairo. “We come to the market with 20 cows and end up selling three of four.” Several factors contribute to the fluctuations in the prices of sacrificial animals and livestock. Among the most influential is the cost of feed. When feed prices rise, so do the prices of sacrificial animals. Conversely,…

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The post Eid Al-Adha Festivities Overshadowed by High Livestock Costs in Egypt first appeared on Egyptian Streets.

Source: egyptianstreets