By Sami Zaptia.
London, 17 July 2020:
Libya imported Euro 3.4 million worth of live sheep since the beginning of April this year the Ministry of Economy of Libya’s internationally recognized government in Tripoli reported Wednesday. The news coincided with the arrival of a ship earlier this week at Tripoli port carrying 477 tons of livestock.
The Ministry said that it did not intervene this year in the process of importing sacrifices, adopting the policy of an open market and competition. It said it limited itself to monitoring the process through the credit data published by the Central Bank of Libya.
The Ministry also added that it expects the continued import of live sheep will be reflected positively in the availability of the Eid al-Adha (Feast of Sacrifice) sacrifices. It also reported that the reduction of the foreign exchange surcharge rate to 163 percent, compared to 183 percent last Eid, may contribute to a reduction in the prices of imported sacrifices compared to last year.
It reported that the minimum price last year was around LD 700 (US$ 117) while the maximum was about LD 1,000 (US$ 167 or an average of US$ 142).
It will be recalled that these prices reflect prices in western Libya. As report yesterday by Libya Herald, ram process this week in eastern Libya averaged US$ 163 per head. It must also be recalled that imported rams are cheaper whilst there is more desire for local rams that can sell at a 20-40 premium.
The Eid of Sacrifice is on 30 July this year.
Average Eid ram prices fall in eastern Libya to about US$ 163