Saudi Press

Saudi Arabia and the world
Friday, Mar 29, 2024

Hike in prices of poultry, other commodities seen

Hike in prices of poultry, other commodities seen

Despite the official denial of any increase in the prices of basic commodities on the ground, no one can avoid the wave of inflation that is getting higher everyday, with the latest being poultry, which recorded a hike that was clearly reflected on consumers, reports Al-Rai daily.
According to informed sources, the Ministry of Commerce and Industry has not allowed any poultry company to increase its prices in cooperative societies and markets. It is committed so far to the decision to fix prices, which is the same position maintained by the Union of Consumer Cooperative Societies (UCCS).

The UCCS Director Abdulaziz Al-Sultan affirmed this fact during the meeting of the affiliated Economic Committee of the Council of Ministers that was held on Sunday, May 22. The sources explained that poultry companies are faced with the decision to fix prices by taking advantage of the set margin for prices, for which they used the minimum for reasons of competition. These companies resorted to returning to the maximum allowed in cooperative societies, and some canceled the offers and discounts that were available to compensate for the cost difference.

This made the consumers feel the increase in prices. The daily’s tour of the markets revealed that the rise in prices of chicken has become a concern among the public, as it has increased by 20 percent, and there are expectations that it will rise more in the coming months. In parallel with the increase in the price of chicken in the markets, the supply centers witnessed the provision of chicken weighing 1,200 grams, which is not very popular with citizens as they prefer to buy chicken of small sizes. In this regard, the sources indicated that poultry companies have officially asked the officials of the Ministry of Commerce to increase their prices, under the pretext of the high cost of breeding and production by more than 40 percent compared to the previous cost.

They stressed that the ministry officials did not agree to increase the prices of poultry in the markets, commercial centers and cooperative societies, and that the decision to fix prices is still in effect, but they approved raising their prices in the supply centers at a rate of approximately 11 percent after carrying out long negotiations with the supply companies which proposed an increase of 30 percent. The sources affirmed that the public will not bear the planned increase in supply, and that the ministry will raise the food subsidy allocation to the extent of covering the rate of the new increase in full.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Reports in Gaza: 5 dead from the impact of aid packages dropped by the USA
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
×