Abdulla bin Touq, Minister of Economy and Tourism, on Wednesday emphasised that the country has sufficient supply of essential goods - including staple foods and medicine - as the Iran war rages on.
The Emirati minister said the UAE's strategic stockpiles are primed to meet consumer needs, amid a recent surge in demand fuelled by the hostilities across the region.
Mr Al Touq, also chairman of the Supreme Committee for Consumer Protection, reassured the public over the nation's robust food security during a tour of the large-scale distribution centre of leading retailer Carrefour.
The visit was aimed at ensuring the 'abundant availability' of food products for consumers and supporting the comprehensive monitoring of strategic stock levels.
Mr bin Touq was received by Ahmed Galal Ismail, chief executive of Majid Al Futtaim Holding, along with a number of the Group’s executives.
During the tour, the minister inspected the food supply and procurement operations at the centre and was briefed on several key sections, including the receiving of shipments and quality inspection processes.
“Major distribution centres in the country play a crucial role in supporting national food security, ensuring the stability of goods and product prices, and facilitating their smooth flow into markets, thereby strengthening the UAE’s position as a leading regional hub for food industries and advanced logistics services,” Mr bin Touq said.
Mr Bin Touq said the Ministry of Economy and Tourism, in partnership with relevant authorities, monitors stock levels at suppliers and distribution centres daily and conducts precise analyses to ensure the adequacy of supply for each essential commodity.
Mr Ismail said Carrefour was working to ensure a steady supply of goods for customers, while ensuring pricing stability.
“Our teams continue to work around the clock to ensure the availability of essential goods in sufficient quantities across all Carrefour stores nationwide, meeting the needs of our customers at stable and affordable prices," he said.
Tackling price hikes
The UAE government announced last week it had imposed fines of more than Dh200,000 on food traders introducing “unjustified price increases” after a surge in demand for staple goods fuelled by Iranian attacks.
The Ministry of Economy and Tourism said it had carried out more than 7,000 inspections of retailers to prevent vendors from seeking to exploit the current crisis.
The authority said the clamp down had uncovered 567 breaches, most of which were for unreasonably high prices.
The ministry has issued 449 warnings to traders, suppliers and sellers and handed out Dh207,250 in fines since Iran's strikes on the Emirates began.
It said it was “intensifying monitoring efforts” to ensure price stability, particularly for nine essential goods; cooking oil, eggs, dairy products, rice, sugar, poultry, legumes, bread and wheat.
The price of these items cannot be raised without approval from the ministry and a national committee set up to assess food costs.
The ministry previously stated the UAE possesses a strategic stockpile of essential goods that can cover market needs for up to six months.
It said shipping and supply movements are running normally and regularly through various entry points, and supply chains are operating efficiently.
Mr bin Touq has called for calm and said the UAE held a comprehensive stock of goods, sufficient for long and reassuring periods of time.
“We call on the public to remain calm and not to be swayed by any fears, or to engage in excessive buying or stockpiling of goods,” he previously told state news agency Wam.
Supermarkets have been quick to get the message out that there was no need to panic buy. Some stores have placed limits on purchasing as a precautionary measure to guard against hoarding of goods, especially staple foods.
Businesses such as Pure Harvest Smart Farms say a boost in local production gives supermarkets far better ability to fill their shelves.
“After the shock of Covid, which was quite sustained and problematic, the UAE invested even more in its supply chain infrastructure,” said Sky Kurtz, founder and chief executive of Pure Harvest Smart Farms.
“The country is able to absorb a shock like this. There's a relatively small population, plenty of wealth to solve it, and there are many other borders,” he said.
