Ramadan food prices reduced by up to 70% in UAE
The price cuts and subsidies are worth a total of US $68 million
UAE supermarkets will cut the prices of 5,000 food items by up to 70% this Ramadan, the Ministry of Economy has announced.
Dr Hashem Al Nuaimi, director of the ministry’s consumer protection department, told The National last week that the department had held meetings with 55 suppliers of basic goods, including rice, flour, oil, milk, fruits and vegetables, urging them to keep imports high in order to meet demand during Ramadan, and to keep prices low.
The price cuts and subsidies are worth a total of US $68 million (AED250 million), reports sister publication Arabian Business.
The ministry reportedly asked to raise the level of imports by at least 30% during the Holy Month.
Agreements with suppliers have led to prices of 4,000 other goods being fixed for the month. A total of 18,000 tonnes of fruits and vegetables are to be imported daily into Dubai and 4,000 tonnes to Abu Dhabi , which is 30% more than normal, Al Nuaimi said.
To ensure retailers adhere to the discounts, the ministry will carry out more than 400 inspections at markets during Ramadan.