Saudi sheep prices at 20-year high

Sheep prices in Saudi Arabia have soared by at least 50 per cent to their highest level in nearly 20 years and traders blamed high fodder prices and stronger appetites during Ramadan, a local newspaper said on Sunday.

“Prices of all types of sheep have recorded a sharp increases in various parts of the kingdom,” 'Kabar' Arabic language daily said.

“People said they had not witnessed such high prices for nearly two decades.”

The paper said the price of a Hirri sheep leaped to SR1,200 (Dh1,175) from SR700, while another type, Swakni sheep, soared to nearly SR1,150 from SR600 and that of Naeem sheep to SR1,200 from SR800.

“Sheep dealers justified the increases to a sharp rise in fodder prices and to a shortage in supply because of strong demand during Ramadan,” it said.