As part of its proactive measures aimed at curbing price hikes, the Ministry of Commerce and Industry is in the process of issuing ministerial decisions prohibiting the export and re-export of a number of basic and primary commodities that the Kuwaiti market needs at the current stage, especially in light of the Russian-Ukrainian war which has helped prices of raw materials to shoot up globally.
Responsible sources told a local Arabic daily that the Minister of Commerce and Industry, Fahd Al-Shariaan, is in the process of issuing decisions prohibiting the export and re-export of vegetable oils, in order to avoid the expected shortage of these products globally due to the current crisis in global food supply chains and the scrap needed by the iron factories in Kuwait.
The sources added that the decision to prevent the export and re-export of scrap iron comes after the price of a ton of iron increased from 220 dinars to about 280 dinars currently, and this decision will ensure the needs of Kuwaiti iron factories and ensure the continuity of their production in the current stage to meet the needs of government and private projects and the needs of citizens.
On the same level, the sources expected that the Minister of Commerce and Industry to issue another ministerial decision related to preventing the export and re-export of used paper and cardboard, to ensure that its prices do not rise on the one hand, and to secure the needs of paper and cardboard factories that are recycled and used again in the paper and cardboard industry.
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