UAE Controls Ramadan Essential Goods Prices
Ramadan in the UAE: No Unjustified Price Hikes on Essentials
The government of the United Arab Emirates (UAE) is taking significant measures to prevent unjustified price hikes on essential consumer goods during Ramadan. The UAE Minister of Economy emphasized that wholesalers in the country are under strict surveillance to ensure price transparency and stability, especially during Ramadan when consumer spending significantly increases.
Transparency and Stability of Prices
Recently, the minister participated in an inspection tour visiting the Union Coop, Lulu, and four other major wholesale chains. The goal was to check the implementation of the new pricing policy and to ensure that the prices of essential consumer goods are clearly and legibly displayed on the shelves. Focus is placed on nine essential products: cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread, and wheat.
The minister stressed that during the tour, an emphasis was placed on whether stores comply with the new pricing policy and whether prices are elevated unjustifiably. "During the visits, we evaluated how well the selling locations adhere to the new pricing policy and whether the prices are clearly and legibly presented to consumers," he said.
Objective of the New Pricing Policy
In December 2024, the UAE Ministry of Economy announced that wholesalers cannot raise the prices of essential consumer goods without prior permission. This measure aims to protect consumers and enhance competition. The ministry highlighted that from 2025, at least six months must pass between successive price increases for basic food items. Additionally, traders are obliged to clearly display product prices to facilitate easy comparison for consumers.
Ramadan and Consumer Spending
Ramadan, a month of fasting and self-reflection in the Islamic world, will begin in March 2025 in the UAE. This period brings a significant increase in consumer spending as residents and expatriates alike engage in greater purchases for the festive season. The demand for essential foodstuffs spikes due to family and friend gatherings and the tradition of giving, often doubling sales during these months.
The minister noted that the purpose of the visit was not just to check prices but also to ensure transparency in commercial practices and the effectiveness of market supervision. "It is important for citizens and residents to receive necessary goods and services at the highest quality standards," he added.
The Role of Consumers in Price Oversight
The minister emphasized that consumers should also play an active role in stabilizing prices. According to UAE authorities, consumers can partner in the monitoring process by engaging with regulatory bodies. Through various channels of the ministry, any complaint can be submitted, or any harmful commercial practices to consumers can be reported.
The minister also highlighted the need for close cooperation between the Ministry of Economy, the economic development departments, and related government bodies to prevent price manipulation. "Partnership and continuous communication are crucial to ensure market stability and consumer protection," he said.
Conclusion
The United Arab Emirates is taking significant steps to prevent unjustified price hikes during Ramadan, ensuring that consumers can peacefully shop for essential food items. Through the new pricing policy and strict monitoring, the country aims to make Ramadan a time of genuine joy and cohesion for everyone. With active consumer participation and close cooperation with authorities, the UAE sets an example of balancing market dynamics and consumer protection.
