KUWAIT: The Commerce and Industry Ministry has received memos from local and GCC dairy companies seeking to raise the prices of their products due to the spike in costs in accordance with neighboring countries.

"The first request was by a GCC country, but other regional companies soon followed, as the ministry is about to study these requests during this month. The ministry will review the requests to raise the prices of products as well as other requests including the ceiling put forth during the COVID pandemic in 2020," sources revealed to Kuwait Times.

"The ministry is of the view that the requests are logical as global prices have increased after the COVID pandemic and the start of the Russian invasion of Ukraine," the sources added.