02/06/2025
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02/06/2025
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KUWAIT CITY, June 2: As Eid Al-Adha is fast approaching, livestock markets in the country have begun to witness a remarkable increase in sacrificial animal prices, amid expectations that these prices will continue to rise to record levels in the days leading up to the holiday. In a striking comparison, the price of a local sacrificial animal currently ranges between KD170 and KD200, which is roughly equivalent to the value of nine barrels of oil according to the announced international prices. This is a manifestation of the remarkable increase in the prices of sacrificial animals.
The price of imported sheep, on the other hand, ranges between KD110 and KD150, which is also considered relatively high. The increase in sacrificial animal prices is attributed to several interrelated factors as follows:
The price of imported sheep, on the other hand, ranges between KD110 and KD150, which is also considered relatively high. The increase in sacrificial animal prices is attributed to several interrelated factors as follows:
- Short supply and high demand: This equation is the primary driver of the price increase, especially given the limited local livestock production, which fails to meet the increased demand during the Eid Al- Adha season.
- Rising local production costs: Local livestock farmers face rising costs for feed, veterinary care, and other livestock requirements, which directly impact the final selling price to the consumer.
- Rising import and transportation costs: Kuwait relies heavily on importing live livestock to meet the needs of the local market. Any increase in shipping, transportation and insurance costs from source countries inevitably leads to higher prices in the local market.
- Seasonal factors and speculation: Seasonality plays a significant role, as demand increases remarkably before Eid Al-Adha, potentially opening the door to monopolistic practices or speculation that contribute to unjustified price increases.
This is considered a recurring crisis that necessitates radical solutions. The rising price of sacrificial animals is a problem that recurs annually; hence, the need for radical and sustainable measures to address it.
Observers believe that these solutions include the following:
- Support local production: Provide more support to local livestock farmers to encourage them to increase and diversify production.
- Open new import markets: Search for new markets to import livestock at competitive prices and guaranteed health conditions to ensure ample supply and reasonable prices for consumers.
- Tighten market control: Intensify oversight of livestock markets to prevent monopolistic practices or unjustified price speculation. Citizens await the outcome of the coming days, hoping that sacrificial animals will be available at reasonable prices to enable them to perform this important religious ritual.
