11 July 2011
Almarai announced today that it will comply with a resolution issued by the Ministry of Commerce and Industry by taking the price of its 2 litre fresh milk and laban pack back to July 1, 2011 prices. The price of dairy had increased from SR7 to SR8. However, Almarai believes that the rationale and justification for the price increase is still valid and plans to work with the government to resolve the issue.
Almarai announced today that it will comply with a resolution issued by the Ministry of Commerce and Industry by taking the price of its 2 litre fresh milk and laban pack back to July 1, 2011 prices. The price of dairy had increased from SR7 to SR8. However, Almarai believes that the rationale and justification for the price increase is still valid and plans to work with the government to resolve the issue.
The Ministry of Commerce and Industry recently ordered a reduction in the price of dairy products after public concern over a 20-30 percent price hike on staples, in advance of Ramadan. According to a press release issued by the Ministry, the issuance of the decision is to maintain price stability in the local markets, especially in light of the support and encouragement the government provides to national industries in the country.
Almarai is a Saudi Arabian producer of fresh milk, laban, baked goods, poultry, infant nutrition, and juice to consumers in the GCC.
© Yalla Finance 2011
