As the Ramadan period fast approaches, the UAE government is establishing adequate steps to make sure that the key retailers comply with the new pricing guidelines for fair pricing in Ramadan. Abdullah bin Touq Al Marri, UAE Minister of Economy, reassured the public that prices for essential items, including cooking oil, eggs, dairy items, rice, sugar, poultry, legumes, bread, and wheat, would not be unreasonably increased during the holy month.
During an on-the-spot tour recently, Al Marri visited major retail outlets such as Union Coop, Lulu, and five other major stores to ensure compliance with the new pricing regulations, with the primary focus on confirming that the prices of the nine basic items were displayed correctly and in agreement with the government’s pricing policy. He emphasized that these retailers would not raise prices on these goods without the Ministry of Economy giving advance permission.
Enacted in December 2024, the newly introduced regulations protect consumers while also ensuring fair competition by stipulating that retailers shall not increase the price of these selected items without getting prior approval. The policy also establishes that there must be a six-month interval between one price increase and another for the basic commodities thereafter starting in 2025.
Al Marri’s visits are intended to ensure the effective implementation of this policy in the preceding period for the busy season of Ramadan. Ramadan is expected to start on 1st March 2025, characterized by a high period of consumer spending in the UAE when many gatherings happen with lots of food and household items to purchase. Retailers usually note an increase in sales of essential goods during this period.
Apart from monitoring prices, Al Marri also conversed with shoppers to gather their feedback about prices in furthering consumer protection. He equally impressed upon the customers the need to report price manipulation or unfair practices via the communication channels provided by the Ministry.
The Minister attached importance to the joint effort between the Ministry of Economy and the economic development departments in addition to other relevant government bodies in preserving transparency and ensuring that no malpractice exploits the market. The UAE, by ensuring the prices are fair and stable, also wants to assist the consumers and traders during the holy month of Ramadan.
