Egypt’s temporary suspension of a tariff on chicken imports will favor shipments from Brazil to the North African market, Brazilian chicken and pork processor group ABPA said on Friday.
Egypt said this week it had suspended for six months a 30% tax on whole chickens, which according to ABPA is the main poultry product Brazil sells to Egypt.
Brazilian whole chickens will become more competitive in Egypt as a result of the tariff suspension, boosting Egypt’s supplies that have been hampered by bird flu and rising production costs, said ABPA President Ricardo Santin.
Around 90% of Egypt’s imported whole chickens come from Brazil, the world’s largest exporter of the product.
On Thursday, Brazil reached an agreement to allow producers from the South American country to export chicken to Algeria.
Source: Market Screener