Fodder companies have cut the price of fodder by SR50 a ton. This is the fourth reduction since King Abdullah, Custodian of the Two Holy Mosques, issued a decision seven months ago to subsidize fodder by 50 percent. The new price came into effect on Wednesday. The price reduction aims to stabilize the market so that businesses in the poultry industry can reduce prices and remain competitive. Poultry businessman Ashraf Hassan said: “This reduction is a positive initiative in light of the fact that the poultry industry is facing ferocious competition from imported products and some businesses are unable to compete with imported frozen poultry.” The price cuts mean that the new price for Al-Badi product is SR1,261 instead of SR1,311 for a ton, while the Al-Nahi product will cost SR1,225 instead SR1,275 for a ton. Hassan expects that the reduction will affect live poultry prices as well, cutting them from SR8.50 to just SR8. He said the same thing will happen to the prices of frozen poultry, with a 1,000-gm chicken costing SR12 instead of SR12.50. __
