The Tripoli based Libyan Ministry of Economy and Trade issued a final warning last Thursday (5 February) to all animal feed suppliers holding letters of credit, requiring them to submit all relevant documents to the Ministry of Economy and Trade.
These documents pertain to shipments, distribution mechanisms, and trademarks circulating in the local market. The deadline for submission is Tuesday, February 10, 2026, with no extensions or exceptions.
The Ministry emphasized that failure to comply with the deadline will result in the immediate implementation of all necessary legal measures. These measures include suspending the operations of companies whose products are not found in the Libyan market, as determined by reports received by the Ministry, and referring violators to the competent authorities. All necessary actions will be taken in accordance with applicable legislation, without exception.
Follows on from Decree 51/2026
The Economy Ministry’s warning follows on from Decision No. (51) of 2026 published on Thursday 5 February regarding commodity pricing.
Decree 52/2026 prohibits the pricing of any commodity based on the black-market foreign exchange rate. It stipulates that only the official foreign exchange rate shall be used to justify price margins.
85 import companies to be suspended for failing to import any goods with LCs
It also follows on from the Ministry’s 2 February announcement requesting that the Central Bank of Libya (CBL) suspend 85 import companies for failing to import any cooking oil with the US$ 130 million worth of letters of credit they were granted in 2025.
Part of a wider economic reform effort
The latest move by the Economy Ministry is part of a wider ongoing economic reform effort, in coordination with the Central Bank of Libya, aimed at fighting LC fraud, price increases and imported inflation, protecting standards of living through purchasing power, reducing demand for the US dollar in the black market, and defending the value of the Libyan dinar.
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Economy Ministry prohibits commodity pricing based on the black-market exchange rate
