The United Arab Emirates issues an important statement to everyone regarding prices during the holy month of Ramadan
The UAE has banned price hikes on basic commodities and offered 75% off over 4,000 items during Ramadan.
Rice, chicken, bread, and dairy prices will be locked to safeguard consumer rights.
The Ministry of Economy (MoE) plans to tighten pricing oversight throughout Ramadan.
UAE Ramadan 2024 prices
A balanced trade-consumer relationship in the UAE is maintained by protecting consumer rights in a complete and leading consumer ecosystem that meets global standards.
This strategy intends to improve the ministry's coordination with partners to enforce consumer protection laws and regulations.
It also educates consumers about the country's consumer protection laws and essential goods pricing policies, promoting consumer knowledge and awareness of their rights and responsibilities when buying and guiding them to make informed consumption choices.
Abdullah Sultan Al Fan Al Shamsi, Assistant Under-Secretary for the Monitoring and Follow Up Sector at the Ministry of Economy, said the UAE is creating a comprehensive regulatory and legislative framework to protect consumers and their rights.
He noted that the UAE's MoE works with federal and local government bodies, particularly the Supreme Committee for Consumer Protection, the cooperative sector, private sector, and stakeholders to create a safe and favorable environment for consumers when buying products or using services.
Al Shamsi said: “In 2023, the Ministry's Consumer Protection Department held 26 meetings with essential goods suppliers.
These include cooking oil, eggs, dairy, rice, sugar, chicken, beans, bread, and wheat. All of these talks ensured that Ramadan 2024 consumers have enough items.
“The UAE implements best policies to ensure a strategic supply of all vital goods required by citizens, residents, and visitors in ample quantities for extended periods, guided by clear directives and unwavering support from our wise leadership.”
He said that UAE marketplaces saw a significant surge in commodities and products, especially vital consumer items, as Ramadan approaches.
He stressed the ministry's commitment to addressing all consumer demands, making these commodities easily accessible without unwarranted price spikes, and supplying the amounts they need.
Al Shamsi further stated that the ministry and related authorities must approve price increases for critical items under the basic consumer goods pricing strategy.
This policy includes a ban on raising prices for nine key items:
- Cooking oil
- Eggs
- Dairy
- Rice
- Sugar
- Poultry
- Legumes
- Bread
- Wheat
UAE Federal Decree Law No. 5 of 2023 revising some articles of Federal Law No. 15 of 2020 on consumer protection and its executive rules have improved consumer rights and supported national initiatives to tighten pricing regulation in UAE markets.
Over 43 supplier responsibilities and substantial regulatory measures to encourage fair business practices are required.
Al Shamsi said: “The ministry will oversee promotions announced by a group of consumer cooperatives and outlets in the country and those related to Ramadan discounts on goods and products.
“Some cooperative products have nearly 50% discounts.”
Al Shamsi added that certain cooperatives will promote approximately 4,000 commodities through promotional efforts in the country's markets during Ramadan 2024.
Sales rates varied from 25% to 75%, while e-store discounts reached above 40% on Ramadan goods and 70% on seasonal goods like vegetables and fruits, which are in high demand.
Many UAE retailers have also announced a 75% rise in Ramadan 2024 discounts.
He said growing rivalry between retailers, massive supply, and customer awareness are driving discounts.
The MoE, in partnership with federal, municipal, and economic development agencies, plans to undertake many new projects in the following phase, which Al Shamsi examined. They will improve consumer safety and boost the nation's competitiveness and economy. Initiatives include:
A UAE team to monitor critical consumer goods and product pricing
Promoting a code of behavior to enhance outlet-supplier contracts in the country's marketplaces
The ministry and competent authorities will monitor merchants' adherence to unit pricing and take necessary action on any anomalies with the duty to not raise basic consumer goods prices.
He said the ministry's teams and economic development agencies conducted roughly 96,200 inspection trips in 2023, finding 6,645 breaches.
About 620 government inspections were conducted in January and February 2024.
He said these trips help the government monitor marketplaces and outlets, verify merchants' price labeling commitment, and avoid commercial fraud and trademark infringements.
Al Shamsi also assured consumers of product options depending on their demands and budget.
This lets consumers switch brands if the price is greater, the quality is lower, or there are other advantages.
This is important because consumer purchases affect pricing, market movements, and supply and demand.
