July 21, 2011

Saudi King orders 50% increase in cattle feed subsidy

Saudi Arabia's King Abdullah has ordered a 50% increase in the subsidy of cattle feed, and for related departments to monitor the cattle feed markets, punishing any trader attempting to hike fodder prices.

Meanwhile, the Interior Ministry issued a strong warning to those attempting to hoard barley with the intention of creating artificial scarcity, the Saudi Press Agency reported.

The ministry also directed provincial officials to step up inspections and take strong deterrent penal measures against those who attempt to hike feed prices. The punishments include shuttering shops, condemnation of the trader in three mass-circulation local newspapers at the expense of the violator, depriving their right to government subsidy, and heavy fines.