Requests To Increase Food Prices Submitted To Moc

Reliable sources and several well-known local companies and importers of food and consumer goods have submitted requests to the Ministry of Commerce and Industry to allow them to raise the prices of consumer products to varying degrees, Arabic daily Al Qabas reported

The importers are also said to have listed several reasons to justify their requests, foremost of which is the high cost of raw materials at global level, in addition to the significant rise in sea and air freight charges, as well as transportation costs from across Kuwait land borders.

However, the sources confirmed the decision that was issued by the Ministry of Commerce and Industry about a year and a half ago to streamline prices of all food commodities in Kuwait due to the repercussions of the Corona pandemic, is still valid, and has not been canceled so far, but the ministry is studying the option of canceling it because the reason why it was issued is no more valid in the face of supply chains resuming normal activity and the smooth flow of goods.

Although the market has resumed its normal activity new precautions to prevent an artificial and unjustified rise in prices are in place.

The sources pointed out among the companies which have demanded permission to raise prices, are major local suppliers of international cocoa, but their causes differ from others, as they attributed the reasons for the increase to high costs of cocoa in the countries of origin, led by African countries citing drought situation over the years, which means scarcity of supply of raw cocoa, and consequently the high prices globally.

 

 

SOURCE  TIMESKUWAIT

Comments Post Comment

Leave a Comment

Submit