Abu Dhabi: The Ministry of Economy has approved a temporary increase in prices of egg and poultry products by a maximum of 13 per cent, Emirates News Agency (WAM) reported. The ministry said that the decision was taken after a number of companies submitted requests to raise prices amid high production costs and rise in international shipping costs.
The ministry added that it carried out an analytical study to verify the necessity of increase in cooperation with a specialized advisory team and studied the cost of egg and chicken products.
The ministry stated that this increase will contribute to protecting poultry and egg companies and farms from the negative effects of the high costs of productions and mitigating the impact. It will help sustain the operations of these companies and ensure their ability to provide egg and poultry products in the UAE markets at stable and reasonable prices.
The ministry noted that egg and poultry products are among the commodities whose prices cannot be raised in the markets without prior approval from the ministry and that the step to raise the prices of these products comes in the implementation of the policies in force and in line with the pricing policy that was recently launched under Cabinet Resolution No. 120 of 2022 regarding the rules and controls for pricing consumer goods in the country.
The ministry stressed that the rise in commodity prices is a global challenge, and that the ministry is continuously studying any global rises in the prices of major commodities to work in an integrated manner and in accordance with a clear policy to reduce the impact of any uncontrolled rises in the international prices of these commodities on the final products in the country’s markets.