11 July 2014
A number of retailers of nuts and spices in Jeddah have registered a 100 percent increase in the number of visitors during the month of Ramadan.
The holy month is considered the high season for sales as compared to other months during the year, given the increase in events, weddings and family gatherings that take place throughout the month.
Abduljabbar Naji, owner of a nuts and spice shop in Al-Alawi market in downtown Jeddah told Arab News: "The prices of products have increased dramatically, especially qamaruddin, which went up from SR3 to SR14 per piece in the past year alone. Also, some types of pepper, cinnamon and nuts are witnessing a price rise of about 20 to 25 percent. For example American almonds have gone up from SR14 to SR28 per kilo."
However, the prices of other types of goods have declined. "Cumin which used to retail for between SR16 and SR18 per kilo is now priced at between SR12 and SR14 per kilo," Naji said.
He attributed the decline in prices to an excess in supply this year. "But the increased prices of some goods is due to the limited imports," he said.
Many retailers have increased prices of commodities expecting that demand will remain high throughout Ramadan, he added.
Um Ayman, a spice retailer at Al-Nada market in downtown Jeddah, said Ramadan is a high season for female retailers, particularly for those who mix spices at home.
She said many women benefit from high revenues during the month, with profits ranging from SR10,000 to SR15,000. She confirmed that the prices of some types of nuts and spices have increased dramatically as compared to last year, such as black pepper, which increased from SR30 to SR40, and cinnamon, which increased from SR160 to SR200 per carton. However, other goods have declined in price, she said, such as cardamom, which fell from SR120 to SR100 per kilo.
Um Ayman also attributed the shortage of certain goods in the market, especially Indian black pepper, to supply constraints.
A number of retailers of nuts and spices in Jeddah have registered a 100 percent increase in the number of visitors during the month of Ramadan.
The holy month is considered the high season for sales as compared to other months during the year, given the increase in events, weddings and family gatherings that take place throughout the month.
Abduljabbar Naji, owner of a nuts and spice shop in Al-Alawi market in downtown Jeddah told Arab News: "The prices of products have increased dramatically, especially qamaruddin, which went up from SR3 to SR14 per piece in the past year alone. Also, some types of pepper, cinnamon and nuts are witnessing a price rise of about 20 to 25 percent. For example American almonds have gone up from SR14 to SR28 per kilo."
However, the prices of other types of goods have declined. "Cumin which used to retail for between SR16 and SR18 per kilo is now priced at between SR12 and SR14 per kilo," Naji said.
He attributed the decline in prices to an excess in supply this year. "But the increased prices of some goods is due to the limited imports," he said.
Many retailers have increased prices of commodities expecting that demand will remain high throughout Ramadan, he added.
Um Ayman, a spice retailer at Al-Nada market in downtown Jeddah, said Ramadan is a high season for female retailers, particularly for those who mix spices at home.
She said many women benefit from high revenues during the month, with profits ranging from SR10,000 to SR15,000. She confirmed that the prices of some types of nuts and spices have increased dramatically as compared to last year, such as black pepper, which increased from SR30 to SR40, and cinnamon, which increased from SR160 to SR200 per carton. However, other goods have declined in price, she said, such as cardamom, which fell from SR120 to SR100 per kilo.
Um Ayman also attributed the shortage of certain goods in the market, especially Indian black pepper, to supply constraints.
© Arab News 2014
