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Wednesday , June 29 2022

War, global high price hike said hit restaurants

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KUWAIT CITY, April 5: Kuwaiti Federation of Restaurants, Cafes and Catering Chairman Fahd Al-Arbash said the consequences of the Russian-Ukraine war and global price hike have affected the restaurants in country, reports Al-Anba daily.

Al-Arbash revealed the restaurants and food supplies sector is suffering due to a decline in the simple profit margin of Ramadan meals brought about by the high prices of most ingredients such as flour, oil, meat, rice and others. He said the long-term contracts of some ministries including the Interior Ministry for the supply of meals for their employees could lead to huge losses as the prices of ingredients used in preparing these meals have increased by 40 percent. He pointed out the restaurants must increase their prices immediately in light of the above, but this requires approval from the Ministry of Commerce and Industry.

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