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Saturday, December 10, 2022

Markets in Ramadan: normal supply and prices Stable

Markets are supplied in a normal way during the period from 1st of Sha’ban to 24th of Ramadan 1443, according to the Directorate of Competition, Prices and Compensation (DCPC), under the Ministry of Economy and Finance.

The available supply largely covers the needs of products and consumer goods, said the Directorate in a statement on the fourth meeting of the Interministerial Commission for monitoring the supply, prices and operations of price control and quality, held Wednesday under the chairmanship of the Ministry of Economy and Finance.

Regarding the prices observed, those of several products remained stable during the fourth week of Ramadan compared to those observed the third week of the holy month, although the prices of some products have begun to decline including those of some vegetables and fruits, the same source said.

However, an increase in prices was observed for edible oils due to successive increases in global crude oil prices, triggered by the low supply, the increase in demand and the impact of the conflict in Ukraine on world markets, the statement added.

This meeting took place in the presence of the ministerial departments responsible for the Interior, Agriculture, Fisheries, Industry and Trade, the Energy Transition and Public Institutions concerned.

The commission will continue to hold regular meetings after the holy month of Ramadan to monitor market developments, the level of supply and prices and the outcome of interventions of control commissions to address any form of fraud, monopolization, speculation or price manipulation.

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