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‘Cheap foreign offers have forced firms to rethink poultry price hike’

by 5m Editor
26 February 2007, at 11:03am

KUWAIT CITY - The Poultry Companies Union may withdraw its decision to hike the price of eggs by 20 percent and has invited the Cooperative Societies Union to attend a meeting to discuss the issue, reports Al-Watan daily.

It is worth mentioning that several GCC, Arab and foreign poultry companies have submitted their offers to Cooperative Societies Union quoting prices nearly half of the current prices of locally produced eggs. Chairman of Cooperative Societies Union Mohammed Al-Mutairi says "the pouring of offers quoting much cheaper prices has forced the Poultry Companies Union to withdraw its decision." He added that both unions will hold a meeting after the public holidays and assured that cooperative union will not accept the price hike as local products are supposed to be cheaper than imported goods.

Source: Arab Times

5m Editor