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Kuwait Bans Export of Eggs to Curb Price Hike

by 5m Editor
16 January 2008, at 6:42am

KUWAIT - Minister of Trade and Industry Falah al-Hajri issued Tuesday a decision banning the export of domestic eggs and the re-export of imported eggs to reduce the high prices of eggs by providing greater quantities of eggs in the domestic market.

Photo: StockXpert
Egg inflation is a result of bird flu precautions.
Photo: StockXpert

Al-Hajri said in a press statement that egg production companies must from now on provide detailed disclosure to the ministry every three months detailing the quantities that were exported and the destinations that received these quantities.

The decision gives the right for the ministry to grant temporary export licences for exporting local and imported eggs according to the local market’s needs which are to be decided by the ministry after an accurate field study is done to determine the size of the quantities allowed to be exported.

In recent times, prices of domestically-produced eggs had risen from around KD 0.950 to KD 1.5 per container of eggs. On the other hand, the price of imported eggs reached KD 1.150 per container, after it was KD 0.650. These prices were considered by some consumers as prohibitively high prompting them to complain to the ministry which seeks to intervene to reduce these high prices.

Source: ArabTimes

5m Editor