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Prices of basic commodities remain ominously high
As the year approaches the end of the first quarter, prices of basic commodities in the UAE remain ominously high.
- Staff Report
- Published: 00:05 February 27, 2008
Dubai: As the year approaches the end of the first quarter, prices of basic commodities in the UAE remain ominously high.
The latest consumer price index released by the Ministry of Economy revealed some price increases in many basic commodities, especially rice.
Click here to see the prices of selected commodities
Based on the data released, five 5-kilo of basmati rice (Momtaz) imported from Pakistan has risen to Dh30 from just Dh26.25 when the year started, an increase of almost Dh4.
The basmati rice (Indian Gate) imported from India, which used to be Dh85.80 per 10-kilos, is now sold at Dh86.
An industry insider has revealed that the UAE market is experiencing a shortage in supply of rice products. "We are experiencing right now a lower supply of Basmati rice imported from India and Pakistan. All prices of general commodities are increasing, especially rice. The rice suppliers continue to fail to meet our demand," said Kamal Vachani, director of Al Maya Group.
Vachani also admitted that the recent price hike, especially among the varieties of rice, has affected the budgets of consumers in the country.
"Both the retailers and consumers have been greatly affected by the price hike since the start of the year. Basic commodities are getting more expensive across the UAE," added Vachani.
The MoE collated the prices last Monday covering 41 essential commodities.
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