Support to egg exports halted

IDAL suspends subsidy on exports of eggs in light of sharp rise in local prices

The Investment Development Authority of Lebanon (IDAL) announced that it has suspended the subsidy on exports of eggs. It said that the decision, approved by Cabinet, was made on the backdrop of a “sharp rise in prices of eggs”.

“The decision is part of a strategy to support agricultural exports, while maintaining balance between the market demand and the prices,” IDAL said.

More than 326,000 boxes of eggs (360 eggs per box) were exported in 2010, according to figures released by IDAL’s Export Plus program.

IDAL said that the decision to halt the support to egg exports is temporary. It did not specify as to when the support will be resumed.