Cairo 3A for Poultry, a subsidiary of Egypt's agri-food group Cairo 3A, is earmarking US$32.3 million for two significant poultry industry projects in 2024. The CEO disclosed that a major portion, approximately $26 million, will fund the construction of a 3-hectare poultry products processing plant in the Sharkia governorate. The remainder will be invested in establishing new poultry fattening farms, contributing to increased bird production for slaughter. Despite a challenging sales environment in 2023 with a 40 percent decline, the CEO of Cairo 3A for Poultry, anticipates a rebound of 20 percent to 25 percent in 2024, emphasizing the strategic importance of these investments in solidifying the company's position in the frozen and chilled chicken segment.
Established in 2017, Cairo 3A for Poultry plays a vital role in the market, holding around 25 percent of the frozen and chilled chicken segment. The planned projects align with the company's strategic plan to double its market share in the processed poultry products segment to 10 percent. The initiatives come at a time when the Egyptian poultry industry faces challenges like inflation and currency devaluation, impacting production costs. The government's measures, including tax exemptions for poultry farmers and increased feed imports, aim to support the sector amid difficulties.