Prices Of Commodities Increase Every Day

Although the official denials have been made about any increase in the price of basic commodities, no one is in the mood to swallow such denials when it comes to price hikes seen every day, the latest being the price increase in poultry, which has clearly reflected on consumers.

In a local Arabic daily, several reputable sources said that the Ministry of Commerce and Industry has not given permission to poultry companies to raise their prices at cooperative societies or supermarkets and that it has maintained its commitment to fixing prices, a stance shared by the Federation of Cooperative Societies and confirmed by its director Abdulaziz Al-Sultan during the Economic Committee Council of Ministers meeting yesterday.

Sources indicated poultry companies decided to fix prices by taking advantage of the margin set for prices, and the markets said that citizens were concerned about the increase in chicken prices following a 20 percent increase in chicken prices, amid expectations of even more increases in the future.

Meanwhile, as chicken prices have increased, the market centers have been stocked with 1200 grams chicken, but small chickens are preferred by citizens, who prefer to buy smaller chickens.

Apparently poultry companies are seeking approval from the Commerce Ministry to raise their prices by more than 40 percent due to the high cost of breeding and production of chickens. However, the ministry has not yet approved the increase, saying approval was only given for a price increase of 11 percent after long negotiations when breeders were even demanding a price increase of 30 percent.

In the source's view, citizens are not going to bear the planned increase in supply and the ministry is raising food subsidy allocations to the extent that the new price increase for poultry is fully covered, since the increase was incorporated into the supply from last April onward.

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