Livestock Prices Fall Sharply in Saudi Arabia Ahead of Eid Al Adha
As Eid Al Adha approaches, livestock markets across Saudi Arabia are experiencing a significant decline in prices.
This decrease is largely attributed to a government decision to exempt imported sacrificial animals from customs duties, providing relief to both traders and consumers during the busy holiday season.
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Key Developments
Customs Exemption
- Announced by the Council of Ministers, the customs exemption applies to imported livestock arriving before the Hajj season.
- The aim is to boost supply, stabilize prices, and ease the financial burden on citizens preparing for the Eid sacrifice.
Market Activity
- Livestock markets, especially in the northern regions of the Kingdom, are reporting high activity levels with a wide variety of available animals, both local and imported.
- Prices for Naemi sheep, a popular choice for sacrifice, now range between 750 and 2,100 riyals, showing improved market balance compared to last year’s price surge.
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Trader Insights
- Fawaz Al Ruba’a, a sheep trader in Rafha, noted that the government’s move has made sacrificial animals more accessible: “The customs exemption helped everyone, consumers, traders, and breeders. Prices are now reasonable, and every person can afford to offer a sacrifice.”
- Abu Milad Al Shalaqi, another livestock merchant, reported that this year’s prices start at around 1,300 riyals, significantly lower than last year. He mentioned that customers are being more selective about the health and condition of the animals.
Coordination Efforts
Local authorities and livestock market organizers are collaborating with veterinary and municipal services to ensure the smooth flow of trade and the health of animals as demand rises.
Observers expect prices to remain stable throughout the Eid season, citing a substantial supply that appears to meet consumer demand in most areas.
This favorable pricing environment is expected to enhance the festive spirit of Eid Al Adha, allowing more families to participate in the traditional sacrificial offerings.
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