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Thursday , August 18 2022

Poultry prices may rise

This post has been read 13358 times!

KUWAIT CITY, May 14: A number of poultry companies have submitted a request to the Ministry of Commerce and Industry to allow it to raise the selling prices of poultry in Kuwait, in line with the global rise in prices and increasing costs, reports Al-Rai daily. The daily quoting sources reported that the companies justified their request to raise prices citing the recent increase in feed prices which has reached about 40 percent, in addition to the effects left by Ukraine’s war on global markets and supply chains, indicating that the rise in frozen poultry prices has become tangible in some varieties.

The sources pointed out that Ukraine, which is the sixth largest exporter of poultry in the world, stopped exporting as usual, which caused an increase in demand on the Brazilian market, which witnessed a 10 percent rise in prices. The sourced indicated that Brazil is one of the most important exporters of frozen poultry to Kuwait, the Gulf states and Europe, and prices are rising in light of the sharp competition between different countries to meet the needs of local markets, and the growing European orientation towards Brazil.

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