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Hike in meat prices feared Eggs export ban eyed

KUWAIT CITY, Oct 7: The meat and livestock supply in the local market has allegedly declined by 35 percent; thereby, raising fears of meat shortage especially now that the Eid Al-Adha holiday is fast approaching, reports Al-Seyassah daily quoting sources.

Sources disclosed the Livestock Transport and Trading Company (LTTC) increased the prices of its products when it did not receive financial support from the Ministry of Commerce and Industry.  Sources said Minister of Commerce and Industry Anas Al-Saleh, in cooperation with other ministry officials, visited the meat shops to personally look into the situation.

Sources confirmed the ministry officials have started studying alternatives to avert the meat shortage, such as purchasing meat from other countries like Sudan and imposing harsh penalties on traders who increase the prices of their products without any valid reason.  Sources added some Kuwaiti traders had reached an agreement with Sudanese suppliers to address the problem.

Meanwhile, the Ministry of Commerce and Industry is currently contemplating on the possibility of imposing a ban on the export of eggs due to the dwindling supply in the local market, reports Al-Rai daily quoting sources.

Sources said this came after the local egg manufacturers demanded for subsidy from the government to cope with the soaring prices of fodder.  Sources disclosed Naif Poultry Company still sells eggs at the same price – KD 1 per crate, but it had previously announced its plan to increase the price due to rising production cost and lack of support from the government. 

Sources added Minister of Commerce and Industry Anas Al-Saleh promised to address the problem within two weeks, especially since many companies have been incurring losses.

Meanwhile, Naif General Manager Wajee Ali revealed the company is still waiting for the ministry’s response to its request to increase the price of eggs.  He hopes Al-Saleh fulfills his promise to solve the issue in two weeks.

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