(MENAFN - Arab News) There has been a 50-percent increase in the price of fruits and vegetables over the past 10 days due to an imbalance in supply and demand said esmat abuzinada head of auctioneers at the vegetable market in jeddah.
Prices will be monitored over the next few days through inspection rounds in an effort to reduce price increase and hold price manipulators responsible he said
A carton of egyptian oranges now ranges between sr20 to sr40 while bananas from the us and the philippines cost sr67 to sr70 a bunch. such increases have prompted consumers to question the efficacy of price-monitoring mechanisms.
Several wholesalers and traders from the retail sector are also attributing price increases to the extreme delay in releasing goods at jeddah's port many of which have been held up for more than 10 days
Mohammed al-qahtani a regular shopper at the vegetable market in jeddah expressed his deep dismay about the high prices
'in the past i would buy a month's worth of fruits and vegetables at a time" he told arab news. 'today however i find myself buying small quantities because of extortionate prices.
'i was stunned to learn that the price of a 13-kg carton of bananas increased from sr57 to sr85 said abdul rahim al-massery a local
'we have suffered as a result of price increases but consumers are the ones who ultimately pay the price" said abdullah al-qurashi the owner of several stalls in the vegetable market and farms in taif.