Eid Sheep Market Support: 437 Million Dirhams Allocated

The government has allocated 437 million dirhams to subsidize sheep imports for Eid in 2023 and 2024, ensuring sufficient supply and stable prices amid ongoing inflation and drought effects.

To ease living costs, customs and tax exemptions were granted on key products such as wheat, livestock, and agricultural equipment. Despite removing import duties and VAT on sheep, supply remained inadequate, prompting the introduction of a direct subsidy of 500 dirhams per imported sheep.

This initiative facilitated the import of 875,000 sheep, involving 156 importers. The measure helped stabilize the market and prevent excessive increases in red meat prices. The government clarified that the tax exemptions did not impact the state budget, as these levies primarily aimed to protect local livestock rather than generate significant revenue.

These efforts are part of a broader strategy to mitigate drought effects and ensure a steady supply of agricultural products and red meat during major occasions.