MoET seeks to control food prices in Ramadan

Violators will face penalties

The Ministry of Economy and Trade (MoET) issued a memo to all supermarkets, grocery stores, and retailers urging them to maintain the stability of food and vegetable prices, namely in the month of Ramadan.

The MoET also called on merchants to display prices clearly for all goods.

Fouad Fleifel, Director General at the MoET, said: “We already have the prices of 64 basic food products, so we can recognize any unfair increase in the prices of these goods in Ramadan.”

Prices are not fixed in the local market. They vary according to supply and demand, and based on competition. Fleifel said: “Usually the demand on food products rises in the first three days of Ramadan. Then the pace of consumption slows down again.” However, traders often seek to keep prices up after Ramadan instead of bringing them back down.

The MoET will engage the whole consumer protection unit team to impose control on merchants and ensure the stability of prices. Fleifel said: “Controlling prices will be our priority this month.” The MoET said its hotline 1739 will be ready to take in consumer’s complaints.

Fleifel said that violators are subject to penalties, and will be referred to public prosecution and then to court.