Published: 2019-07-08 11:15
Last Updated: 2019-07-08 11:36
According to news reports, a number of dairy companies are planning to raise yogurt prices in the Kingdom starting Monday, July 8, 2019, but the decision has not been verified yet.
According to what was circulated on Sunday night, a number of dairy companies agreed to increase prices by up to 25% per kilogram.
If what was circulated is true, the cost of one kilogram of yogurt will rise from JD 1 to JD 1.25, while the cost of yogurt of 700-800 gram will rise from JD 0.79 to JD 1.
However, the Ministry of Industry, Trade and Supply said in a statement that it is currently following up on what was circulated over local media and social media platforms.
The statement added that the Ministry has formed a committee under its chairmanship and the membership of representatives of concerned and related parties from the public and private sectors to calculate the cost of dairy production and the profits achieved.
The Ministry said it would take appropriate measures on this matter in light of the results of the study that the committee will conduct.
With regard to the agreement reached by a number of companies, the Ministry said it will also be considering the legality of this agreement and whether it violates the provisions of the competition law.
The Ministry also said it will not allow any unjustified increases in prices and that the competition law prohibits any agreements to increase prices.