A number of poultry and egg production companies demanded that they be supported in order to avoid losses and closures with the drop in egg prices while the cost of fodder has increased and the ban slapped by the state on the export of eggs.
A local Arabic daily claims Kuwait produces nearly two million eggs daily, and there is a 30% surplus, which made companies sell the one carton of 360 eggs for 8 dinars, while the official price set by the Ministry of Commerce is 12.6 dinars.
The Chairman of the Board of Directors of Mubarakiya Poultry Company, Tawfiq Al-Saleh, told the daily, the rise in the price of feed and the state’s prohibition of poultry companies from exporting their chicken and eggs products are two main factors which may force the companies to close businesses if they continue to incur heavy losses.
Al-Saleh pointed out that “two local companies have already closed doors as a result of their inability to bear losses and the state ignoring our demands, in subsidizing fodder, and opening the door for export, especially since we have a surplus that covers the local market.”
He explained that imported fodder prices rose from 270 to 870 dollars per ton, wondering, “How do companies make profit, amid this rise and the stability of the price of a kilo of live chicken in Kuwait at only 850 fils?”
In turn, Chairman of the Board of Directors of Al-Wuhaib Poultry Company Hamid Al-Wuhaib confirmed told the daily Kuwait has a surplus of egg production equivalent to 30 percent and selling it at a low price caused poultry companies big losses, not to mention the high prices of feed that exacerbated the crisis, pointing out that the price of soy rose from 400 to 880 dollars per ton, where there is a shortage of it in the world, and to add insult to injury the Kuwait Flour Mills Company raised the price of corn from 65 to 123 dinars per ton.
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