Traders exploit rise in rice prices

ABU DHABI — The decision of the Consumer Protection Committee (CPC) in the Ministry of Economy to allow a 20 per cent increase in the prices of rice is being exploited by some unscrupulous traders. It was learnt that some stores in the capital had hiked the prices of rice by up to 60 per cent.

By Adel Arafah

Published: Sun 1 Jul 2007, 8:52 AM

Last updated: Sun 5 Apr 2015, 2:56 AM

However, owners of most of the groceries have expressed their commitment to the decision taken by the CPC. Ibrahim Khan, a grocery owner, said he is committed to the prices approved by the Consumer Protection Committee and would not increase the price of rice.

Another grocery owner Muhiudin Mohammed said only rice importers may gain from the price rise, but owners of groceries will not benefit in any way. For groceries, the gains are limited, he said and added that major profits will go to the big traders.

Shahid Ali, a grocer, said that some grocery owners drastically increased the prices of rice only two days ago, but after the committee’s decision they withdrew the hike fearing action by the authorities.

He added that the prices of rice varied from one quality to another. Currently rices of different varieties are being sold at the followinp prices. A 2kg Egyptian rice bag is being sold for Dh5, while Pakistani basmati is selling at Dh3 a kg and 10kg pack is selling for Dh25. Indian rice is costing Dh17 for a 5kg pack.

Meanwhile, a large number of consumers have expressed dissatisfaction over the 20 per cent rise in prices of rice.

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