Jeddah: The sheep prices have seen a great increase in Saudi Arabia, with millions of pilgrims in the kingdom to perform Hajj and slaughter sheep on the occasion of Eid ul-Adha.
According to media reports, Saudi Arabia’s largest sheep markets are swarmed with buyers and sellers settling bargains. Sheep prices have soar up to $550 with speculations that they could reach $800, two days before the forthcoming Muslim feast.
The boycott of poultry products after the hike in its prices, and the high prices of sheep’s fodder are some of many reasons that pushed the sheep dealers to seek such high prices, while the best quality of sheep used to be sold for $400.
Buyers say they’ve noticed a hike in prices in the past for the top quality sheep.
The patience of the buyer towards the hike in prices and uncontrolled sales, without any control from the concerned authorities, will add to the excuses of the key dealers and highly reduce the demand.
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