Ministry confirms six-month strategic stockpile of essential goods in UAE

The Ministry of Economy and Tourism has intensified its monitoring efforts at points of sale across markets nationwide to ensure price stability for goods and products and their availability in sufficient quantities to meet consumer needs, particularly in light of the current increase in demand for essential consumer goods.

The Ministry explained that monitoring and field inspections are carried out daily by specialised inspection teams. This comes as part of close coordination and cooperation with the economic development departments across the country, within a joint national monitoring team that is unifying efforts to prevent unjustified price increases and unsound commercial practices, while enhancing the continuous monitoring of markets across the UAE.

The Ministry pointed out that there is high-level coordination between the relevant authorities across all emirates to continuously monitor markets and ensure that points of sale and traders comply with consumer protection legislation and policies, particularly the pricing policy for essential consumer goods.

This policy covers nine key commodities: cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread, and wheat, whose prices cannot be increased without prior approval from the Ministry and the national committee formed for this purpose.

As for the price increases observed in some food commodities, such as onions and tomatoes, over the past two days, the Ministry clarified that these increases are temporary and limited, resulting naturally from the effects of the regional crisis. It confirmed that additional quantities of the commodities that experienced price increases have already been supplied in abundant amounts to ensure a stable supply in the markets.

The Ministry also affirmed that the quantities of essential goods available in the markets are sufficient, with multiple alternatives accessible to consumers.

It emphasised that there is no cause for concern regarding the availability or prices of goods, noting that markets are expected to witness a swift return of prices to their normal levels as supply continues to increase.

In this regard, the Ministry stated that the UAE possesses a strategic stockpile of essential goods that can cover market needs for up to six months, ensuring the availability of essential commodities and price stability even in the face of unforeseen emergencies.

Furthermore, the distribution of this strategic stockpile across various regions of the country is carried out according to a well-studied system that enhances the efficiency of supply chains and ensures prompt response to market needs.

The Ministry added that shipping and supply movements are running normally and regularly through various entry points, and that supply chains are operating efficiently. This contributes to the continued availability of goods in local markets without any interruption.

In addition, the Ministry explained that the UAE today possesses a wide network of partner markets that supply it with imports of various goods and products it needs, with the ability to find alternative markets efficiently and at high speed in crises and emergency situations.

Since the beginning of the regional crisis until now, the Ministry of Economy and Tourism, in cooperation with the local economic development departments across the country, has carried out approximately 7,105 inspection tours.

These resulted in the detection of 567 violations, most notably unjustified price increases. Consequently, 449 warnings were issued to traders, suppliers, and points of sale, and financial fines totalling Dhs207,250 were imposed.

The Ministry affirmed that it will intensify monitoring campaigns further in the coming period in cooperation with the Economic Development Departments and relevant authorities, to ensure market stability and provide a safe and stable consumer environment for consumers in the UAE.

The Ministry noted that the consumer is considered an active partner in monitoring the prices of goods and products by interacting with regulatory authorities and communicating with the Ministry through its official channels to submit complaints and report any price increases or observed violations.

For this purpose, they can utilise the e-services on the Ministry of Economy and Tourism website www.moet.gov.ae or call or WhatsApp via 8001222, or the email [email protected]

The Ministry also called upon consumers across the UAE to follow sound consumer practices, purchase as needed, and avoid hoarding or excessive shopping, to ensure price stability and the availability of goods for all.

WAM