ALGERIA/JORDAN: Consumers complain of high prices ahead of the Muslim Eid al-Adha holiday as they shop for festive goods and livestock
Record ID:
1530633
ALGERIA/JORDAN: Consumers complain of high prices ahead of the Muslim Eid al-Adha holiday as they shop for festive goods and livestock
- Title: ALGERIA/JORDAN: Consumers complain of high prices ahead of the Muslim Eid al-Adha holiday as they shop for festive goods and livestock
- Date: 16th November 2010
- Summary: VARIOUS OF SHOPPERS ON THE STREET
- Embargoed: 1st December 2010 02:37
- Keywords:
- Topics: Economic News,Religion
- Reuters ID: LVABMUPDKRVM5J1I3R56CCVZK60E
- Aspect Ratio: 4:3
- Story Text: At the Sahab livestock market in Jordan, shoppers are selecting animals to be slaughtered in celebration of the Eid al-Adha holiday.
But this year those keen to carry out the Islamic tradition of slaughtering an animal in celebration of the Eid are faced with rising meat prices.
Traders say locals aren't sure if they want to spend their money on such an expensive commodity.
"Prices are very expensive, this pushed people to buy imported sheep, which is expensive compared to last year. Last year, one sheep would cost around 40 (Jordanian) dinars (about 56.5 dollars)," said sheep trader Abdullah Maraqa.
The rising prices are down to a number of factors which include an increase in fodder prices as well as other basic commodities like wheat and sugar.
One man keen to buy meat for his family is Mansour Manasrah.
"I came to buy local meat, but I saw prices are very high so I had to buy imported sheep, which costs around 170 dinars (241 dollars), or 200 dinars (282 dollars). Some sell at higher prices others at less. I was surprised with the prices, so I'll take the cheaper items as I will be buying two," said Mansour.
Some traders also said they can't compete with the prices of imported meat from countries like Romania and Australia which are being sold for less than local livestock.
Meat isn't the only thing on Jordanians' shopping lists; people are keen to buy new clothes and presents for their families.
Jordan is a politically stable country, but its economy is still feeling the effects of the world-wide economic downturn.
The country is experiencing signs of economic recovery, but analysts said it will take some time for Jordan to get back to its previous growth levels.
With the economic climate in many people's minds, shoppers are tightening their purse strings.
"Really prices are expensive, they almost doubled. People do not have liquidity to buy what they need for Eid al-Adha," said Fadel Najdawee on a busy shopping street in Amman.
Faced with lack of liquidity and high budget deficit, the government imposed a heavy taxation regime to generate badly needed revenues. Critics say fiscal policies of the state, in the absence of a strong parliament, has lead to an erosion of the middle class.
The desert kingdom has no natural resources and heavily depends on foreign aid to keep its economy alive.
In the north African country of Algeria, Eid preparations are also underway. But like Jordan, Algeria is also facing meat and livestock price hikes, especially as demand increases ahead of Eid.
"We will buy the sheep, whether it's expensive or cheap we must do our duty, that's all. If it's very expensive, you won't buy. We have to buy it to also make the children happy. Happy Eid, God willing,'' said one shopper.
''Well I suppose poor people can't afford to buy a sheep, they're so expensive,'' added another.
Algeria is Africa's second biggest economy and its government pledged last year to modernise their economy by building new homes, and to tackle unemployment, but critics say these plans have yet to be realised.
The Algerian government has stepped in to regulate the sale of livestock, making sure that prices aren't too high and that only sheep that have been immunised from disease are sold.
The Ministry of Agriculture also subsidised 30,000 rams to go on sale at affordable prices.
In Algeria sheep are on the market for around 25,000 Algerian dinars, over 340 U.S dollars.
Muslims around the world will celebrate Eid al-Adha on Tuesday (November 16). - Copyright Holder: REUTERS
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