The UAE Ministry of Economy has announced a new pricing policy for nine essential consumer goods, including cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat. The policy, effective 2nd January 2025, aims to regulate prices, prevent arbitrary increases, and enhance consumer protection. It also covers cleaning products, which require prior approval for price changes.
Three ministerial decrees form the framework of the policy:
- Monitoring Prices: A team will oversee price stability, approve any increases, and address complaints.
- Unit Pricing: Retailers and online stores must display unit prices to ensure transparency and fair competition.
- Code of Conduct: Suppliers and retailers are guided by ethical principles to maintain market integrity.
The initiative seeks to curb monopolistic practices, stabilize markets, and ensure fair pricing. It aligns with the UAE’s long-term economic vision and aims to support sustainable consumption, transparency, and competitiveness in the national economy.
News Source: Emirates News Agency
