Ministry of Industry: Some dairy companies began selling products at higher prices


Published: 2019-07-08 13:06

Last Updated: 2019-07-08 13:49

Roya News Source

In a telephone call with Roya, the official spokesman for the Ministry of Industry, Trade, and Supply, Yanal Barmawi confirmed what was circulated on social media platforms and said that preliminary indicators show that some dairy companies began today to sell their products at higher prices, while others did not.

Barmawi said that the Ministry had 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.

Barmawi stressed that the Ministry would take appropriate measures on this matter in light of the results of the study that the committee will conduct.

However, regarding the agreement reached by a number of companies to increase yogurt prices, the Ministry said it will also be considering the legality of this agreement and whether it violates the provisions of the competition law.

Earlier this morning, dairy companies issued a statement pledging to stop selling all dairy products at less than their cost prices according to articles six and eight of the competition law and to comply with the provisions of the law.

Also read: Dairy companies may raise yogurt prices, committee formed to check on what was circulated