UAE retailers voice concerns about food price monitoring

04 March 2012

Some UAE retailers say a new electronic system to monitor the prices of 200 basic food commodities from the moment they enter the country to sale at stores could squeeze profits and affect food companies doing business in the Emirates, the National has reported. The Electronic System for Goods Monitoring was set up in cooperation with the Cooperative Societies, LuLu Hypermarket, Carrefour, Spinneys and wholesale suppliers so the government can ensure no party increase prices without approval. The system will keep tabs on the price of rice, wheat, poultry, sugar, milk, tea, meat, eggs, oils, fish and non-food items such as cosmetics.

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