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CHAMPION OF THE DAY
Wholesale pricing scheme
set for agricultural products
Profit margins set at
20 to 30 percent for retailers
The Ministry of Agriculture (MoA) has published the first weekly wholesale price list for vegetables, fruits, and meat.
The price list will apply in all wholesale markets. It will be updated each Wednesday and when needed.
The aim is to protect consumers from monopolistic practices.
Profit margin for retailers ranges from 20 to 30 percent, according to Abbas Mortada, the Minister of Agriculture.
The Ministry of Economy and Trade (MoET) will inspect the pricing in the markets.
This weekly list includes orientation prices of the products, and the retail prices will differ from one store to another due to the operational costs paid by each retailer, according to Alia Abbas, Director General of MoET.
The price of a kilogram of mutton ranges from LL18,000 to LL23,000 for this week, according to the MoA.
Prices of meat products for last month increased by 36 percent compared to March 2019, according to MoET. Prices of vegetables and fruits increased by 19 and 17 percent respectively.
Reported by Gisele Khalaf
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Apr 08, 2020
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