An overview of the Saudi Arabian meat market for December
Saudi Arabia's food markets witnessed significant fluctuations in meat prices during December, with poultry and fish prices rising, according to official data from the General Authority for Statistics. These price movements reflect market conditions and its response to local and global supply and demand variables, directly impacting household budgets and the commercial sector in the Kingdom.
Historical background and economic context
Stabilizing the prices of essential food commodities, particularly meat and poultry, is a strategic priority within the Saudi Vision 2030 food security objectives. Historically, the Saudi market has relied on a mix of domestic production and imports to meet growing demand. The prices of these commodities are influenced by several factors, including global feed prices, shipping and logistics costs, peak consumption periods such as Ramadan and the Hajj season, and government regulations aimed at protecting consumers and ensuring ample supply.
Red meat price details: fluctuations between decreases and increases
The December bulletin of average prices for goods and services showed mixed results in red meat prices. Fresh beef saw a slight decrease of 0.5%, reaching an average price of SAR 52.3 per kilogram. Fresh camel meat experienced a more significant decrease of 1.4%, registering SAR 53.2 per kilogram. In contrast, lamb prices bucked this trend, with fresh (Naeemi) lamb rising by 0.3% to SAR 66.9 per kilogram, and imported chilled lamb increasing by 0.6% to SAR 54.2 per kilogram.
Poultry sector: near-universal rise
In the poultry sector, a key economic alternative to red meat, an upward price trend was observed. The price of locally produced frozen chicken rose by 0.5% to SAR 18.8 (for 900g), and imported frozen chicken followed suit, increasing by the same percentage to SAR 17.8. Meanwhile, the price of locally produced fresh chicken remained stable at SAR 17.2. The price increases also extended to chicken parts, with fresh chicken thighs rising by 0.8% to SAR 9.7 (for 450g), while fresh chicken breast fillets decreased by 0.9% to SAR 20.4.
Fish and seafood market
The price hikes extended to the fish and seafood sector. Fresh kingfish, a consumer favorite, saw a 0.1% increase to SAR 66.9 per kilogram. Fresh grouper also rose by 0.3%, reaching SAR 55.6 per kilogram. Fresh peeled shrimp experienced a 0.7% increase, with the price per kilogram reaching SAR 77.9.
Importance and expected impact
These price fluctuations directly impact consumer purchasing power and the cost of living. The rise in poultry and fish prices, which are essential protein sources, may force households to adjust their consumption patterns. On a broader economic level, these changes affect operating costs in the restaurant and hospitality sector. This data underscores the importance of continued government efforts to monitor markets, boost domestic poultry and fish production, and diversify import sources to ensure price stability and efficiently meet market demands.
