Shops in UAE need Ministry of Economy approval to increase prices of 10 basic commodities

Shops in the UAE will need the approval of the Ministry of Economy before they can increase the prices of 10 basic commodities, according to the Higher Committee for Consumer Protection. The committee recently held a meeting discussing the comprehensive strategy for consumer protection as well as market control mechanisms in the UAE. Under this policy, traders are obliged to get approval from the Ministry of Economy before applying any price increase on cooking oils, eggs, fresh milk, rice, sugar, fresh chicken, legumes, bread, flour and cleaning materials. The Ministry of Economy will determine the maximum profit margin of each commodity for suppliers or traders. Meanwhile, the Higher Committee for Consumer Protection has recommended that a team be formed to consider and decide on requests for commodity price increases. ICA/Expat Media
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