JEDDAH: A number of traders and breeders emphasized that the livestock market in the Kingdom is witnessing a decline in prices, with large quantities of stock available to meet market demands.
They pointed out that prices have fallen by 50 percent for (female) sheep, goats and sawakny, while they have fallen by 25 percent for naimi, najdi, and hari.
Traders expect that prices will rise again in the coming days despite the fact that the market is witnessing large shipment of naimi sheep from Jordan. It is expected that the numbers may exceed 300,000 heads during the current Eid. Also, other sheep are expected from Syria after Eid. This will contribute to market stability and will also reduce prices.
They confirmed that prices of sheep sold for sacrifice purposes are expected to rise during Eid ranging from SR1,200 to SR1,800 despite the current decline in prices.
Sheep dealer Mekhlef Al-Anzi said, “The sheep market is witnessing a state of fluctuation and decline in prices, as they have fallen by 50 percent.”
For his part, Mohammed Al-Qahtani, a breeder, said that price decline caused many breeders incur significant losses, especially since many of them bought sheep several months ago at high prices.
“They also had to bear the costs of breeding. Large quantities of imported sheep were sold in the market at low prices exceeding 25 percent.”
He demanded that the relevant authorities limit imports to maintain traders’ gains of national livestock, especially since prices have witnessed a big drop.
Breeders may withdraw from the market if losses continue.
The Cooperative Association for Livestock in Riyadh earlier this month warned of livestock prices’ collapse and suffering of livestock breeders in the Kingdom due to these measures, and rises in feed prices as well. It called for preserving the achievements of breeders and supporting them in various ways.