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Increase in Imported Feed Cost to Cause Hike in Poultry Prices

by 5m Editor
1 August 2012, at 7:17am

KUWAIT - Several owners of local poultry companies have warned of skyrocketing prices in chicken and eggs at the local market due to recent hikes in the prices of soya and corn poultry feed imported to Kuwait, reports <em>Al-Watan Arabic</em> daily.

According to Arab Times, poultry company owners said the price of soya has witnessed about 300 percent increase in the past three years, while its alternative is also expensive.

They pointed out that the government some time ago subsidized soya and corn by 75 per cent, but has currently reduced the subsidy to 15 per cent. They urged the government to continue to import soya and subsidize it; otherwise the prices of chicken and eggs will multiply in the next few days.

Meanwhile, the Chairperson of Kuwait Union of Cooperative Societies Abdul-Aziz Al-Samhan has rebuffed the statement of the owners of poultry companies, saying the hike in prices of chicken and eggs is imminent after three companies have announced they are suspending production due to the 300 per cent hike in the price of feed.

He disclosed that the union will import specific types of frozen chicken, “but it will not be easy to import eggs at this period”. He indicated the government holds the key to resolving the problem and must work hard to stabilize the prices of livestock feed, while bearing additional expenses-as observed in other countries.