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Posted On: 17 January 2015 06:16 am
Updated On: 12 November 2020 02:14 pm

GCC dairy companies may increase prices

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Several GCC food companies plan to raise the prices of their products exported to neighbouring countries, Al Sharq has learnt.

The products likely to be costlier include milk and poultry products, vegetables and fruits.

Any rise in the prices of products imported by Qatar will be a bad news for customers as the local market heavily depends on products of GCC companies.

Al Sharq tried to contact some companies to find out the reasons behind the planned price rise but they refuses to comment.

A manager of the one of the commercial complexes, who requested anonymity, said the rise may happen in the prices of dairy products, including powdered milk and non-perishable products because of their high cost of production.

One international food supply company said many dairy firms in the GCC have confirmed that they are selling milk that can be stored for a longer duration, at 10 percent less than its manufacturing cost.

Consumers wonder if the shortage of frozen chicken in Qatar was because of this impending price rise or because of the country’s new policy to reduce imports and encourage local products.

According to Qatar’s Consumer Protection Law, companies can increase the prices of their products only after a public announcement. The rise should be officially announced by them and concerned authorities.

Price increase is not limited only to food companies as the prices of other products have also gone up in the recent past.

The prices of cosmetic products have been raised by companies by five to 10 percent in violation of the law that stipulates that companies must announce any change in the prices through the media with justification for the price rise.