The UAE’s Ministry of Economy has introduced new rules to control the pricing of essential commodities. Starting January 2, 2025, there must be at least six months between two consecutive price hikes for basic items. Additionally, retailers cannot raise the prices of nine key goods without prior approval from the Ministry.
These items include cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread, and wheat. The updated policy aims to protect consumers, stabilize markets, and promote fair competition.
The regulations are part of three new ministerial decrees designed to enhance transparency and prevent sudden disruptions in supply and demand. Retailers must display clear unit prices to help consumers make informed decisions.
Key Highlights of the Policy
Approval for Price Increases:
Retailers and suppliers need prior approval before increasing prices on essential goods. Related items and cleaning products also fall under this rule, while other products will follow standard market dynamics.
Preventing Market Disruptions:
The policy safeguards essential goods from unexpected economic changes, maintaining market stability and quality while discouraging monopolistic practices.
Transparency and Unit Pricing:
Retailers must display prices per unit in standardized measurements. This makes it easier for consumers to compare products and choose the best options.
Consumer Rights:
The policy allows consumers to file complaints if they notice violations by retailers or online merchants.
Code of Conduct for Fair Practices:
Ministerial Decision No. 247 outlines ethical rules for suppliers and retailers, ensuring integrity and transparency in the consumer goods sector.
Additional Details
Undersecretary Abdullah Ahmed Al Saleh emphasized that these measures aim to balance relationships between suppliers, retailers, and online merchants while protecting community well-being. Consumers, suppliers, and retailers can also report violations under Ministerial Decision No. 246, which ensures price stability and prevents unfair practices.
The new pricing policy reinforces market fairness, helps consumers make informed decisions, and supports a more transparent and competitive environment in the UAE’s retail sector.
