UAE Announces New Policy to Control Rising Food Prices

UAE’s Ministry of Economy on Wednesday announced a new policy to control and mitigate food prices of crucial food items to prevent inflation.

Under the new policy, the suppliers must submit evidence to justify price increases of some of the most sought-after items, including fresh and dry milk, fresh chicken and eggs, bread, flour, sugar, salt, rice and legumes, cooking oil, mineral water and others, Khaleej Times reported.

“The suppliers could raise prices only if they imported the food items with high costs, but that should be based on approval from the ministry of economy,” KT added.

Some other items such as biscuits, chocolates, confectionaries of all kinds, some cheese products, frozen food products, juices and ice cream, tea, and etc… does not need much approval, the ministry said.

The ministry said it is regularly monitoring the prices of 300 most sought-after basic commodities across more than 40 outlets across the country to keep the prices in check.

The ministry also warned against the violators and said that legal actions would be taken against them, and assured to carry a daily monitoring to check the prices.

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