By Lynne Roberts
Consumer protection committee rejects industry demands to raise prices up to 37%.
Demands from poultry companies to increase prices by up to 37% have been rejected by the UAE’s Higher Consumer Protection Committee, the body said on Wednesday.
The committee, which is tasked with combating monopolies formed by producers, said price increases for eggs and chicken would be capped at 15% and 20% respectively, at an acceptable level to match market trends.
Economy Ministry undersecretary Abdullah Ahmed Al-Saleh said the problem of increasing prices had to be “radically solved through encouraging private sector companies to invest in this vital industry”.
“We also encourage merchants to import these products from as many sources as possible”, he added.
The committee would not seek to price all products on the market, Al-Saleh said, adding, “This intervention is illegal and is totally against the UAE’s free economy approach”.