MADINAH/RIYADH, 29 December 2006 — As Eid approaches the prices of livestock, particularly sheep, skyrocket along with the demand for sacrificial animals.
The annual event also sees customers complaining about prices and calling for government intervention to control them. This year is no different, with buyers accusing sellers of exploiting the situation by increasing the prices beyond any justification.
“We’re the victims of greedy businessmen primarily because of the absence of any regulation by the Ministry of Commerce,” said Hulayel Al-Juhani, a livestock buyer in Madinah. Buyers have called for the ministry to put price controls on livestock to help stabilize the market.
Saeed Al-Asmari, a livestock buyer in Riyadh, said that he bought a Naimi goat for SR1,300. A couple of days later, he said, the price increased to SR1,500.
“The prices have increased gradually over the past couple of months,” he said.
Saleh Al-Onaizi, a livestock trader in Riyadh, said this price flux is natural. “What we sell is a commodity; just like any other commodity in the market when the demand goes up so do the prices,” he said.
Hamoud Al-Magamsi, another trader, also said the price of feedstock has increased lately, putting additional pressure to raise prices. As usual, the prices are likely to stabilize after the Haj and people will stop complaining — until the next Haj season.
