The UAE Ministry of Economy has approved a new strategy to monitor basic food prices.

The UAE's Ministry of Economy has adopted a new policy to keep fundamental consumer products including eggs, bread, flour, and salt under control.

Authorities claimed that they were constantly monitoring 300 commonly purchased basic food items and other products that people use on a regular basis.
Seafood, meat, chicken, bread, cereals, dairy, cheese, eggs, oils, vegetables and fruit, water, juice, and cleaning supplies are among them.
To keep the cost of these commodities in check, more than 40 stores and co-operative societies around the country are frequently inspected.
Authorities stated in a statement that they are evaluating the effects of worldwide developments on the pricing of the commodities on the list, as well as cost fluctuations in their countries of origin.
These fundamental consumer commodities have been separated into two groups under the new strategy.
In the first, if import costs rise, a supplier can raise the price of a product, but only with approval.
The provider must submit an application for approval on the Ministry of Economy's website.
They must submit all proof and data linked to the cost increase and its direct causes so that the ministry can assess whether or not it justifies approval and, if so, what percentage of the price increase should be approved.
Fresh and dry milk, fresh poultry and eggs, bread, flour, sugar, salt, grains and lentils, cooking oil, and mineral water are all included in this category.
Goods in the second category are affected by supply and demand fluctuations.
Biscuits, chocolate, confectionery, some dairy products, frozen meals, juice and ice cream, tea, coffee, cocoa and associated products, wheat, oats, crisps, and cleaning materials and tools are among the items on the list.
Posted On : 04/5/2022