The Minister of Economy and Trade, Mohamed Al-Huwaij, revealed in an exclusive statement to our source the reasons behind the rising prices of sacrificial animals with the approach of Eid al-Adha.
He stated: “There are several combined reasons, including the depreciation of the Libyan dinar, the imposition of a 27% tax, rising fodder prices, diseases, and floods that have affected livestock herds in the eastern region, and decreased production in that area this year.”
In addition, the minister mentioned international price increases and the limited markets from which imports are sourced as contributing factors.