UAE launches real-time price tracking for sugar, rice and more
The UAE Ministry of Economy has launched the “National Commodity Price Control Platform,” a digital tool for real-time tracking of essential goods. Covering 90% of domestic trade, it helps monitor price trends, prevent unjustified hikes, and ensure compliance. Minister Abdullah bin Touq Al Marri emphasized its role in consumer protection and market stability.
The UAE Ministry of Economy has launched the “National Commodity Price Control Platform,” a new digital tool designed to enhance government surveillance of market pricing and provide real-time tracking of essential goods. The aim is to check unjustified price rise or those done without prior approval from the ministry.
This platform offers real-time updates on the prices of key consumer products, such as oil, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat, from various retailers.
It enables authorities to track price trends, compare them with set price limits, and ensure regulatory compliance.
It will cover cooperatives, hypermarkets and large stores which represent more than 90 per cent of domestic trade in basic consumer commodities in the seven emirates of the UAE.
Equipped with the latest data collection and analysis, the platform will alert the relevant control team at the Ministry of Economy and other relevant entities about outlets that do not comply with the price ceiling set by the ministry.
Abdullah bin Touq Al Marri, the Minister of Economy, emphasized that this initiative highlights the UAE’s dedication to consumer protection, market stability, and a competitive economy, in line with the goals of the ‘We the UAE 2031’ vision.
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Source : Chinimandi
