The Economy: The increase in the prices of eggs and poultry is temporary

The Economy: The increase in the prices of eggs and poultry is temporary
The Economy: The increase in the prices of eggs and poultry is temporary

The Ministry of Economy stated that the approval to raise the prices of egg and poultry products by a maximum of 13%, which took place pursuant to Ministerial Resolution No. 41 of 2023 issued on March 6, 2023, comes within the framework of the Ministry and its partners’ keenness to ensure a balanced relationship between the merchant and the consumer, and to maintain security. food in all markets of the country, in line with the provisions of Federal Law No. 15 of 2020 regarding consumer protection, and related laws and decisions, indicating that this increase is temporary, and that the extent of the need for its continued application will be assessed within six months from now, and that in In the event that the reasons for it are absent in light of developments in the local, regional and global markets, it will be canceled or modified.

The ministry indicated that this step was taken against the background of a request submitted by a number of companies operating in this field in the country to the Ministry of Economy to raise prices, on the grounds that they incurred large losses during the last period as a result of high production costs and production inputs from imported materials such as fodder and other materials and the high costs of International shipping, in varying proportions, reached record levels.

She explained that she had carried out an analytical study to verify the demand in cooperation with a specialized advisory team on the cost of egg and chicken products, which concluded that the justified increase ranges between 13 and 20%, and the results of the study were submitted to the Supreme Committee for Consumer Protection, where the committee recommended approval of the increase by no. Exceed 13% as a maximum.

And she indicated that this increase would contribute to protecting poultry and egg companies and farms from the negative effects of the high costs of producing these products and mitigating their impact, in a way that helps the continuity of the business of these companies and guarantees their ability to provide egg and poultry products in the country’s markets at stable and reasonable prices, and in the required quantities that meet the needs. All consumers in all emirates of the country without a decrease in supply or interruption in the supply chains of these products in the country.

The ministry indicates that the 13% rate is a simple and justified rate that is in line with the high prices of these products regionally and globally, and that it is a calculated rate in light of the high prices of raw materials and the requirements for egg and poultry production, such as fodder, fuel and vaccinations, and the high prices of international shipping, especially from Russian and Ukrainian ports that It is the main global supplier of grains used in the feed industry, in addition to the impact of the large-scale changes taking place in the international markets, especially the increase in inflation, the challenges of global supply chains, the fluctuation of currency exchange, the rise in freight rates, and the current geopolitical challenges.

The article is in Arabic

Tags: Economy increase prices eggs poultry temporary