UAE: 9 tips to save on groceries as food costs increase

High oil prices, freight rates and the ongoing Russia-Ukraine conflict have resulted in a rise in food prices in the UAE and around the world.

Retailers have told Khaleej Times earlier that they try to minimise the impact of any price increase due to external factors and try not to pass on the burden to consumers and absorb some of the impacts.

One retailer attributed the increase in food prices in the UAE to higher transportation and packaging costs.

As residents look for ways to cut down on grocery costs, Vignesh Sivakumar, a chartered accountant and senior financial trainer, offers some tips to manage budgets:

1. Shoppers should have a list or plan while visiting supermarkets and stick to it

2. Customers must make good use of loyalty schemes/points (some of them may allow redemption to save some money)

3. Budgeting is important, so measure and monitor what you spend every month (total up your bills and figure out your expenses)

4. Be aware of prevailing rates for commonly used consumables to allow comparisons across stores (e.g. what is the current prevailing rate for cooking oil or rice, where inflation is likely to affect prices across brands)

5. Consider use alternatives to the next-door stores including whole-sale stores, which may be cheaper (for e.g. you may find many in places like Souk Al Marfa)

6. Buy generic brands instead of popular ones, particularly for non-edibles (e.g. detergents etc)

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7. Plan ahead and use deals to stock up on essentials.

8. Do not forget to make a per kg or per unit comparison as packaging is not necessarily standardized.

9. For perishables, be aware of how much you need and don't over-buy (the rule of stocking up may not always apply for all items to avoid wastage)

nasreen@khaleejtimes.com

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