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Tuesday , January 31 2023

14 co-ops under probe for cutting supply, increasing ‘price’ of eggs

This post has been read 14545 times!

KUWAIT CITY, Nov 6: The Kuwait Competition Protection Agency has referred 14 cooperative societies to the disciplinary board for the unjustified increase in the price of eggs, reports Al-Rai daily. The agency revealed that these cooperatives obstructed competition between local companies supplying eggs, especially the small and medium companies; thereby, decreasing the supply and increasing prices.

Meanwhile, sources told the daily that the agency conducted an investigation based on the complaints submitted by egg supply and poultry breeding companies in accordance with the Competition Protection Law. Sources revealed that the way some cooperative societies deal with local egg supply companies contributed to the increase in the prices of this commodity by about 25 percent.

In its report, the agency stated thei 14 cooperatives are not the reason for the rise in egg prices per se, but their violation of the fair competition principle that harmed other suppliers. It is worth mentioning that the current price of eggs in some cooperatives ranges from KD1.1 to KD1.350 per tray depending on the size.

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