The “Economy” launches a national platform to monitor basic commodity prices

The Ministry of Economy has announced the launch of the “National Digital Platform for Monitoring Commodity Prices Movement”, which aims to monitor and track the prices of basic consumer goods set by the new pricing policy approved in all state markets, according to the Cabinet Resolution (No. 120) of 2022 regarding the rules and price controls Consumer goods, which include nine basic commodity groups, are: cooking oil, eggs, dairy, rice, sugar, and poultry, And legumes, bread, and wheat.

These goods include some of the associated sub -commodities, so that their prices can only be increased with prior approval from the ministry, while the rest of the commodities and products in the state markets are subject to the rules of competition in supply and demand and market mechanisms.

The platform provides a mechanism that follows an instant for the movement of commodity prices in a wide range of cooperative societies and main sales outlets in the country, which enables those concerned in the Ministry of Economy and the competent local authorities to know the actual prices of basic commodities in various places and at the same time, for follow -up and comparison, and to ensure their compatibility with The price ceiling set by the ministry according to the approved pricing policy.

The Minister of Economy, Abdullah bin Touq Al -Marri, said: “The new platform comes as a continuation of the efforts of the Ministry of Economy and its partners in exercising its supervisory role, and providing all the possible potentials, tools and technologies necessary to ensure the highest levels of transparency in monitoring the prices of consumer goods and consumer protection.”

He added: «The launch of this platform comes in conjunction with the announcement of 2025 to be (the year of society), as the platform contributes to supporting the targets this year, by raising the ability of the concerned authorities to monitor and implement the policies approved to provide an appropriate and safe environment for consumers when purchasing basic commodities, and ensuring the arrival of goods At fair prices for all, protecting society from sudden price rises, controlling inflation, and addressing monopoly practices And manipulation. ”

According to the Ministry of Economy, the platform covers a wide range of consumer cooperatives, “hypermarkets” and large stores, which represent more than 90% of the volume of internal trade of basic consumer goods in all the states of the country, which enhances the role of the platform in promoting effective government control over the markets and enforcing legislation Related policies, raising the level of transparency in the country’s consumer protection systems, and supporting price stability, Protection of consumer rights, and preventing manipulation or monopoly in a manner.

The platform uses the latest data collection and analysis technologies, as it provides transparent databases available to all those involved in control in the Ministry of Economy and local departments regarding the prices and movement of basic consumer goods, and the platform provides the “instant price tracking” feature, with the presence of an alert tool for goods and outlets that are not committed to the price ceiling .

It also contributes to the disclosure of any monopolistic practices or price manipulation by some traders or suppliers, with the existence of the “maps” feature to determine the site in a manner, which enhances the ability of the authorities to take appropriate measures directly to ensure the integrity and credibility of the market, and provides them with an accurate extrapolation of the reality of movement Prices, and enhances their ability to predict or immediately intervene in the event of any manipulation or imbalances that affect the stability of the environment Local consumer.

Excluding cases of “economic concentration”

The Undersecretary of the Ministry of Economy, Abdullah Ahmed Al Saleh, revealed that the ministry received four complaints about economic concentration operations, one of which was referred to the e -commerce sector to the judiciary, and added in statements to «Emirates Today» that the Ministry can grant exceptions from the proportions of economic concentration in the competition law In three cases, some institutions owned by federal or local governments include the condition of full property, and they are according to special decisions and approvals for the exception, while the situation is concentrated The second in the sectors that include laws related to competition mechanisms specialized in these sectors, while the third case is that there are new sectors or fields that include limited suppliers, without the presence of sufficient ones, which requires the ministry to grant temporary exceptions that are continuously reviewed according to the market situation And he explained that «the ministry has monitored and achieved 12 cases in the markets related to the competition law since 2023 in various sectors, the most prominent of which is the two health sectors The real estate, technical sectors and digital trade, “added:” One of the most prominent challenges related to the competition law is the need to raise awareness among business institutions enough about the law and its requirements, in addition to the need to raise awareness among consumers of practices that harm competition, and the importance of providing any observation to the ministry about this », Pointing to new technical sectors in which the number of suppliers is limited, which requires special criteria to deal with them.