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Thu 19 Mar 2020 02:08 PM

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Dubai retailer inks $108m deal to stock up for Ramadan

Union Coop says contracts will ensure sufficient quantities of food for holy month amid ongoing coronavirus crisis

Dubai retailer inks $108m deal to stock up for Ramadan

Union Coop, the UAE’s largest consumer cooperative, has revealed that it has signed contracts worth more than AED400 million ($108 million) with suppliers, in preparation for the holy month of Ramadan.

The step comes its commitment to provide foodstuffs in large quantities to meet the needs of consumers during the Ramadan month.

Dismissing ongoing market rumours, Khalid Humaid Bin Diban Al Falasi, CEO of Union Coop, said: “These contracts will ensure sufficient quantities of basic food and non-food consumer goods... which further confirms that there is no fear of running ‘out-of-stock’ during the preparation for the holy month.

"Moreover, we have agreed with the suppliers to ensure 24-hour a day, 7 days a week proactive supply plan, in case of any shortages.”

He added that Union Coop has activated plans to ensure the continuous availability of goods in huge quantities in light of panic buying connected to the coronavirus outbreak.

Al-Falasi called on consumers to prepare for the holy month several days in advance to avoid "the situation of confusion and crowds at the billing counters".

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