The UAE Ministry of Economy and Tourism is ramping up daily checks at shops nationwide to keep prices stable and ensure plenty of essential goods amid rising demand.
The Ministry explained that it is closely monitoring markets to stop unfair price hikes, especially on essentials like cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat. It affirmed that prices cannot be increased without prior approval.
As for the price increases observed in some food commodities, such as onions and tomatoes, over the past two days, the Ministry clarified that these increases are temporary and limited, resulting naturally from the effects of the regional crisis. It confirmed that additional quantities of the commodities that experienced price increases have already been supplied in abundant amounts to ensure a stable supply in the markets.
The Ministry also affirmed that the quantities of essential goods available in the markets are sufficient, and the UAE possesses a strategic stockpile of essential goods that can cover market needs for up to six months. This ensures the availability of essential commodities and price stability even in the face of unforeseen emergencies.
The Ministry added that shipping and supply movements are running normally and regularly through various entry points, and that supply chains are operating efficiently. This contributes to the continued availability of goods in local markets without any interruption.
Since the beginning of the regional crisis until now, the Ministry of Economy and Tourism, in cooperation with the local economic development departments across the country, has carried out approximately 7,105 inspection tours. These resulted in the detection of 567 violations, most notably unjustified price increases. Consequently, 449 warnings were issued to traders, suppliers, and points of sale, and financial fines totalling Dhs 207,250 were imposed.
The Ministry urges consumers across the UAE to follow sound consumer practices, purchase as needed, and avoid hoarding or excessive shopping, to ensure price stability and the availability of goods for all.