Powdered milk and rice prices have increased by 23 and 30 percent in the Kingdom, local media reported, quoting dealers and the food price index (FPI) released by the Ministry of Commerce and Industry on its website.

According to the index, the price of a 40 kg bag of rice costs between SR256.95 and SR291.75, and the price of a 2.5 kg can of powdered milk between SR63.26 and SR75.87, a local daily reported.

Meanwhile, dealers said imported commodities constitute 80 percent of the overall consumer products market in the Kingdom. Dealers said the prices of certain brands of powdered milk and rice rose this month by 23 and 30 percent, resulting in consumers buying in bulk and cheaper alternatives.

The top seller has been 10 kg bags of rice, with prices rocketing from SR55 to SR72 in a span of five months.

A rice dealer who preferred to remain anonymous, said rice prices increased by 30 percent because the exporting countries raised them this year.

The prices of popular types of powdered milk went up to SR80 per 2.5 kg pack compared to the previous price of SR62, while other alternative types are sold between SR55 and SR62 per pack.

The ministry of commerce food price index fixed prices of different types of rice in the Madinah Province at SR234, SR265.95, and SR291.75 per 40 kg bag based on the quality of the product.

Adil Al-Mazaini, one of the biggest rice dealers in the province, said the rising prices of food have created concern among consumers and dealers.

Mohamed Al-Shalaan, a rice dealer, said prices are rising because some Indian rice companies have monopolized the trade.