THE AGREEMENT TO FIX FOOD PRICES WILL BR RESCINDED FOLLOWING THE RAMADAN HOLIDAY, INFLATION IN KUWAIT IS EXPECTED TO RISE

  • 26/04/2022

Kuwait City:  The Ministry of Commerce and Industry is reportedly preparing to cancel the decision to fix the prices of food consumer products after the Ramadan holiday. Ministry officials have been reviewing the impact of the decision in the past and have come to the conclusion that it needs to be reconsidered. Earlier, the Commerce Ministry had decided to fix the prices of essential commodities, including food items, in a bid to curb rising commodity prices in the country. 


Recently, food distribution companies have been in contact with Commerce Minister Fahad al-Sharian. The food supply companies made it clear that they were convinced of the changes that had taken place in the global market and that this had led to fundamental adjustments in prices.

All suppliers openly stated that it would be difficult to ensure the flow of food products to Kuwait if the pricing decision continues. When considering the actual price, suppliers have to spend money from their account to settle the cost difference. Sources said that the leakage of goods and food items from Kuwait to other markets was noticeable due to the price difference of up to 20 per cent in the Kuwaiti market. 

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