Meat Prices Drop in Kuwait Markets
Kuwait City, Kuwait: Kuwaiti consumers can rejoice! Meat prices in local markets have witnessed a significant decrease of around 10% compared to last year. This positive development coincides with a surge in sheep imports.
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Key Factors Contributing to Lower Prices:
- Increased Supply: The recent arrival of 2,000 Arabian sheep from Jordan has boosted overall market supply.
- Resumption of Syrian Imports: After a lengthy pause, sheep imports from Syria have recommenced, further diversifying options for consumers.
Demand and Price Variation:
Despite the price drop and abundant supply, demand for sheep remains subdued. However, the average price of an Arabian sheep still stands at 115 Kuwaiti dinars.
Understanding Price Fluctuations:
Munawar Al-Wawan, Executive Director of Al-Wawan Livestock Trading Company, explains that occasional price hikes may occur due to:
- Limited Batches: Small traders sometimes sell local sheep in smaller batches (200-400 heads) leading to price variations compared to larger imported quantities.
- Locally Bred vs. Imported: Locally bred sheep often command higher prices than imported ones, contributing to market fluctuations.
Looking Ahead:
The increase in sheep imports and the resulting price decrease offer a welcome relief for Kuwaiti consumers. However, it appears demand may need some time to catch up with the improved market conditions, reported Arab Times.
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