News / Date of Publishing: 13/04/2022
Affected Regions: UAE
“Economy”: a New Policy for “Pricing” Basic Consumer Goods to Promote Positive Competition
Prior approval is required before raising the price of more than 11,000 goods due to import costs.
The Ministry of Economy reported that it had approved a new policy regarding the pricing mechanism for basic consumer goods, so that goods are divided into two groups. The first is subject to the condition of prior approval in the event the supplier wishes to raise their price as a result of high import costs. This group includes more than 11 thousand goods, the most prominent of which are: Fresh and dry milk, fresh chicken and eggs, bread, flour, sugar, salt, rice and legumes, cooking oil, mineral water and more. As for the second group of goods and products, the ministry indicated that they were exempted from the condition of prior approval, and that they are subject to the equation of supply and demand.