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FINANCIAL NEWS
Almarai to reduce its milk, laban price
12 Jul 2011
(MENAFN) Alamarai company, the Saudi food producer, said that as a result of the government’s instructions, the company would reduce its 2-litre fresh milk and laban packs’ prices, reported The National.
The company added that the reduction would take immediate effect, and prices of these products in the Kingdom would return to their previous levels.
Saudi largest food company also said that the increase in raw materials was impacting a range of its lines that included dairy products.
It is worth noting that Almarai increased the price of milk and laban products by about 14 percent, the move forced the Saudi ministry of commerce and industry to issue penalties against dairy companies that raised prices or refused to sell at specified prices.
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