Eggs and poultry products, together make an important part of one’s daily diet. While it’s also an important part of the UAE food culture, there’s no denying that many people also consume them for their dietary benefits. However, consumers across the UAE may have to pay 13 per cent extra for eggs and poultry products for the next six months. Here’s what you need to know about the price hike!
Eggs And Poultry Products Price Hike
It was announced on Saturday, March 18, that the UAE’s Ministry of Economy (MoE) has approved a price hike of upto 13 per cent on eggs and other poultry products. However, it’s worth noting that this is temporary and will be assessed again in six months. According to the Khaleej Times, the decision was taken after several companies in this sector submitted requests stating that they were incurring losses in the last period due to high production and shipping costs. An increase in prices of imported raw materials has also been a reason for this.
As a result, the ministry carried out a study to verify these demands and found that a reasonable hike between 13 and 20 per cent can be made. This result was then submitted to the Supreme Committee for Consumer Protection, thereafter the committee recommended a hike of a maximum of 13 per cent at the federal and local levels. In case you’re wondering about this process, it has been pertinent, as the prices of commodities, like eggs and chicken products, require prior approval from the ministry before an increase.
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This Price Hike Will Be Reviewed After Six Months
Additionally, it’s worth mentioning that the ministry took into account several factors. These include the current rates of requirements for eggs and poultry products, including fodder, fuel, vaccinations, and even international shipping prices. With this increase in the price temporarily, the MoE aims to maintain food security in the markets while also striking a balance between the requirements of the business sector and consumers. However, if the justification behind this increase is no longer valid after six months, the hike might be modified or even cancelled.
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