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IDAL Suspends Subsidies on Egg Exports

by 5m Editor
15 November 2011, at 8:26am

LEBANON - The Investment Development Authority of Lebanon (IDAL) suspended subsidies on egg exports yesterday. Head of the authority Nabil Itani announced in a statement that the step aims to keep a balance between export and local markets.

It added that recent sharp increases in egg prices were behind the decision. The suspension of subsidies was a temporary decision until prices in local markets return to normal, it explained.

TheDailyStar reports that the suspension is a part of a new strategy involving adjustable subsidies on all exports that IDAL supports.

"This is also in line of a previously announced new agricultural export development programme dubbed ‘Agri Plus’ that will be launched early 2012," the statement added.