The Ministry of Economy and Trade confirmed that it does not grant any approvals related to opening documentary credits, nor does it impose restrictions on the supply of goods or services, provided they comply with approved Libyan specifications, in adherence to the provisions of the Competition Regulation and Monopoly Prevention Law and other effective legislation.
The Ministry clarified that focusing on the formal reasons circulating regarding the increased demand for foreign currency, without seriously investigating the identity of the real beneficiaries, does not reflect the full picture of the problem nor contributes to addressing its economic roots.
The Ministry pointed out that, stemming from its responsibility, it has begun clarifying the real reasons behind these phenomena in order to address them fundamentally through microeconomic tools, ensuring actual benefit for the citizen and the national economy without any bias.
Yesterday, Thursday, the Ministry of Economy issued a circular regarding the monitoring of animal feed prices, through which it set a mandatory price ceiling for selling feed to breeders and poultry farm owners.
The Ministry revealed in its statement that official data indicates a surplus in supply; the quantities of approvals granted for feed imports during 2025 amounted to approximately 3.4 million tons with a total value of 910 million US dollars, while the actual local need does not exceed 2 million tons annually.
The Ministry expressed its astonishment at the prices of some types in the market reaching 300 dinars per quintal despite this surplus, describing the increase as “unjustified,” noting that it has set feed prices at the following values:
Regular sheep feed: 210 dinars/quintal.
Fattening sheep feed: 225 dinars/quintal.
Layer feed: 245 dinars/quintal.
Dairy cow feed: 215 dinars/quintal.
Crushed barley feed: 180 dinars/quintal.
The Ministry confirmed that it has begun reviewing the actual imports of companies and linking them to the actual volume of supply, to verify the existence of productive assets and real factories in exchange for the documentary credits that were executed at the official exchange rate.
Ministry of Economy and Trade
The Ministry of Economy and Trade is a government department typically responsible for formulating and implementing national economic and commercial policy. Its history is generally tied to the modern development of the state it serves, often evolving from earlier departments of commerce or industry to address the complexities of a globalized economy.
Libyan specifications
“Libyan specifications” refers to the national technical standards and regulatory requirements for products and services in Libya, established by the Libyan National Center for Standardization and Metrology (LNCSM). These specifications were developed to ensure quality, safety, and compatibility within the Libyan market, often influenced by the country’s economic policies and historical trade relationships. Their history is tied to Libya’s efforts to modernize and regulate its economy following its independence and the development of its oil industry.
Competition Regulation and Monopoly Prevention Law
The Competition Regulation and Monopoly Prevention Law, commonly known as the Monopoly Regulation and Fair Trade Act, is South Korea’s primary antitrust legislation enacted in 1980. It was established to promote fair market competition by regulating monopolistic practices, unfair collaborative acts, and corporate mergers that could stifle economic democracy.
Ministry of Economy
The Ministry of Economy is a government department responsible for formulating and implementing national economic policy. Its history is tied to the development of the modern state, often evolving from earlier finance or trade ministries to address broader economic planning, industry, and commerce.
US dollars
The US dollar is the official currency of the United States, established by the Coinage Act of 1792. It evolved from a system based on Spanish milled dollars and has become the world’s primary reserve currency since the Bretton Woods Agreement in the mid-20th century.
dinars
“Dinars” refers to a historical region in the western Balkans, named after the Dinaric Alps mountain range. It has been inhabited since ancient times and was later shaped by various medieval Slavic states and the Ottoman Empire. The area is known for its rugged terrain, distinct cultural traditions, and complex history of shifting borders and influences.
