MEAT prices in Bahrain are likely to increase by up to 20 per cent following a global hike in logistics costs, it has emerged.
Bahrain industry heavy-weights yesterday said consumers will soon feel the pinch of the price rise which closely follows the worldwide increase.
The current price for Pakistani meat at the Manama Central Market is BD2.200 while Kenyan meat costs BD2.500 which is expected to rise to BD2.640 and BD3 respectively with the anticipated 20pc hike.
According to reports, world food prices rose for a second consecutive month in September, reaching a 10-year peak. It shot up nearly 33pc last month, compared with the same period last year, revealed the UN Food and Agriculture Organisation’s monthly price index.
Prices of Saudi milk, laban and yogurt went up in Bahrain last month following a Saudi Cabinet decision to scrap 50 per cent subsidies on dairy companies.
Bahrain Chamber of Commerce and Industry chairman Sameer Nass yesterday told the GDN that meat price hike was inevitable due to an international increase in the cost of logistics, transportation and raw materials.
“This is a global issue,” he said.
“Prior to the pandemic the cost of transporting a 20-foot shipment container was $1,500, but it has now risen to more than $8,000 per container.
“No trader can exponentially increase prices, because no one has a monopoly over the market.”
Mr Nass reaffirmed that monitoring prices in the market was the duty of the Industry, Commerce and Tourism Ministry with the BCCI proposing regulations and policies.
“It is our duty to present recommendations and encourage the market and not issue decisions – and this fosters perfect competition,” he added.
Meanwhile, Trafco Group chairman and Bahrain Livestock Company chairman Ebrahim Zainal said any changes in transportation costs had a direct impact on the price of products – both food items and others.
“The price of meat has shot up globally and it isn’t just a result of a hike in logistics cost, but also because global demand for meat and poultry has increased,” he said.
BCCI resources and food committee chairman Khalid Al Ameen urged people to rationalise their spending and avoid over-purchasing and storing food.
He said transportation costs across the globe had increased by 120pc ‘which will reflect on the prices of meat’ in both the local and global market.
“The local market in Bahrain always has an adequate supply, even during the pandemic. We did have ups and down but there was no shortage ever.
“Price increases are normal. We had predicted that VAT will be implemented more than 10 years ago.
“People need to purchase for their daily needs without over-spending. This affects us all as consumers.”
Meat is mostly used in popular traditional Bahraini rice dishes such as ghouzi and machboos.
Meanwhile, the winners of the Bahrain Food Excellence Award 2021 were announced yesterday during a ceremony held at the BCCI.
In the established companies’ category (over three years) ‘Amalfi’ won the BD5,000 prize. Vedge Café was named the best start-up (one to three years) award and BD2,500, while in the productive families’ category ‘E-Momken’ received the BD2,500 prize.
All winners will also be allowed to use the ‘Food Excellence’ logo on their winning products for a period of two years.
reem@gdn.com.bh
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