UAE Temporarily Raises Prices of Eggs and Poultry Products
- Publish date: Sunday، 19 March 2023 | Last update: since 4 days
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The Ministry of Economy (MoE) in the UAE has given its approval for a temporary increase in the prices of eggs and poultry products. The decision was announced on Saturday, and it will be evaluated after a period of six months.
Earlier this month, a ministerial resolution was issued capping the price hike of eggs and poultry products at 13 percent in the UAE. The decision was made following a request from several companies in the sector, which claimed to have suffered losses due to high production and shipping costs, as well as increased prices of imported raw materials such as fodder.
The Ministry of Economy clarified that this increase is a temporary measure and prices cannot be raised without prior ministry approval. The decision aims to balance business and consumer needs while maintaining food security.
The Ministry of Economy conducted a study to evaluate the demand made by companies in the egg and poultry sector for a price increase.
The study found that a 13 to 20 percent increase would be reasonable, and the results were presented to the Supreme Committee for Consumer Protection at both the federal and local levels. The committee recommended the approval of a maximum 13 percent price hike based on the findings of the study.