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Egg, Poultry Prices Fixed as Body Steps In

by 5m Editor
7 February 2008, at 9:42am

UAE - Demands from poultry companies to increase prices by up to 37% have been rejected by the UAE’s Higher Consumer Protection Committee, the body said on Wednesday.

The committee, which is tasked with combating monopolies formed by producers, said price increases for eggs and chicken would be capped at 15% and 20% respectively, at an acceptable level to match market trends.

Economy Ministry undersecretary Abdullah Ahmed Al-Saleh said the problem of increasing prices had to be “radically solved through encouraging private sector companies to invest in this vital industry”.

“We also encourage merchants to import these products from as many sources as possible”, he added.

Source: ArabianBusiness.com

5m Editor