Red meat prices expected to fall

Just one glance at the price of food in the supermarkets at the start of Ramadan shows a stark increase in the cost of fresh produce, meats and poultry.

July 21, 2013
Red meat prices expected to fall
Red meat prices expected to fall

Amal Al-Sibai

 


Amal Al-Sibai

Saudi Gazette


 


JEDDAH — Just one glance at the price of food in the supermarkets at the start of Ramadan shows a stark increase in the cost of fresh produce, meats and poultry. Ramadan has become a season for consumerism and consumption and many business owners have been quick to seize the opportunity to gain more profit during this month.



Most Saudis rely on either meat or poultry for their main meal and this escalation in price is putting a strain on lower income families.



Although red meat may not be the healthiest food, it is rich in protein and an important part of Saudi culture to serve meat to guests during special occasions, especially during Ramadan. Some efforts are being made to combat the rise in the price of meat.



The importation of more than 2 million live sheep is an attempt to exert control on the price of meat in the Kingdom and to curb the sudden rise in livestock prices during the holy seasons of Ramadan and Haj.



Sulaiman Al-Jabri, head of the committee of livestock traders at the Jeddah Chamber of Commerce and Industry, announced that his company made sure that 2 million units of livestock would be arriving within days at Jeddah Islamic Port.



The Islamic Development Bank will supply an additional 720,000 heads of sheep in preparation for the Haj season, the peak time for sacrificing animals.



These steps will help meet the growing demand for meat in the coming months, bringing stability to the price of meat and causing the price of local livestock to decrease.



The meat industry has a responsibility toward society and plays a key role in ensuring food security in the Kingdom.



According to Al-Jabri, the importation of such a large amount of livestock was made possible due to the support of Custodian of the Two Holy Mosques King Abdullah and from the Ministry of Agriculture.



The majority of imported sheep this season is from Somalia.



The Ministry of Agriculture has eased trade regulations with new countries this year, such as the importation of cattle from Uruguay, and is negotiating a renewal of importation of livestock from Australia.



These deals will attract investors, further improving and developing the livestock industry. This will in return benefit the average consumer in the Kingdom by lowering the price of meat.



In 2012, beef and veal consumption grew by 6 percent in the Kingdom. With a population of 28 million, the largest in the Gulf Cooperation Council, and steady economic growth, there is great potential for investing in the red meat market in Saudi Arabia.


July 21, 2013
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