Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait- Treasurer of co-op union blames MoCI for egg crisis  Join our daily free Newsletter

MENAFN - Arab Times - 05/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab Times) Treasurer of the Union of Cooperative Societies Muhammad Al-Dujeini blames the Ministry of Commercial and Industry for the current egg crisis, reports Al- Watan Arabic daily. He said the ministry has failed in its duty to protect consumers, and allied itself with the local eggs production companies to raise the prices. Al-Dujeini is of the view that the ministry can only resolve the crisis by closing doors to egg export, and in return, subsidizing fodder and egg distribution to citizens through ''ration card''. He called upon consumers to boycott egg purchase until the actual price is restored and egg price has been reverted to where it was before some traders decided to increase it. He wondered why fingers are being pointed at the cooperative societies.

He explained the cooperative societies have been accused of causing the prices hike; despite they are selling the egg on cost price. He explained the cooperative have since removed the profit margin in an effort to control the price to serve consumers better. He pointed out that "there are 46 other cooperative societies that do not deal with brokers, even if 10 of them are dealing with them through the import of egg", indicating the main players behind the price hike are traders and the ministry.

He wondered why the local companies will export eggs to other countries and are unwilling to provide subsidies for the local market, while the same companies get government's support in fodder, he argued. He called on the Union of Cooperative Societies to activate proposals to make direct eggs import from overseas to counter the price increase, and fulfill the needs of citizens for the product that is used on a daily basis.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help