RIYADH: A Ministry of Trade and Industry's report on basic food product prices for the first four months of 2011 states that the local market is stable compared to the same period last year. Prices of rice of most types fell over the four months, with the average cost of a 40-kg case of “Abu Bint” American rice dropping by five riyals to SR172. A case of “Abu Kas” rice of the same weight fell on average by nine riyals and a case of “Al-Walima” by 20. The price of sugar rose by 19.4 percent in the same period last year, a rise of SR30, leaving the average price of a case of sugar at SR185. The report stated that average prices of corn and palm oils rose compared to the first and last four month periods of 2010. The ministry attributed the rise to an increase in the price of plant oils in global markets in the final quarter of 2010 and the first quarter of 2011, with corn oil going up by half a riyal for 1.8 liters to SR19. Arabian palm oil went up by the same measure by the same amount. The average price of dried milk also rose by 1.25 riyals, and coffee of all types also rose. Locally-produced poultry meat, according to the report, went up by SR10 to SR120 per kg. Imported poultry went up on an average by SR20 per kg to SR140. The daily food product price index on the Ministry of Trade and Industry website, meanwhile, showed Monday a rise in 33 main products on the previous day's prices. Fourteen products showed a fall in prices, while three saw no change. Rice and cooking oil rose, red meat and flour prices fell, while sugar and poultry both rose and fell depending on the producer. The ministry said that it closely follows the supply of all types of products in the market to meet the needs of consumers. “Ministry inspectors have reported that the local market in the Kingdom enjoys a plentiful supply of products and extensive choices exist for each individual product, particularly in the case of food products,” it said.
