“Economy” launches the national platform to monitor commodity prices to enhance market control

The Ministry of Economy has announced the launch of the “National Digital Platform for Monitoring Commodity Prices Movement”, which aims to monitor and track the prices of basic consumer goods set by the new pricing policy approved in all state markets under Cabinet Resolution 120 of 2022 on the rules and controls of consumer goods, It includes 9 basic commodity groups, which are cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread and wheat.

The platform provides a mechanism that follows an instant for the movement of commodity prices in a wide range of cooperative societies and main sales outlets in the country, which enables those concerned in the Ministry of Economy and the competent local authorities to know the actual prices of basic commodities in various places and at the same time, to follow up, compare and ensure their compatibility with the price ceiling What was defined by the Ministry according to the approved pricing policy.

Abdullah bin Touq Al -Marri, Minister of Economy, stressed that the UAE, thanks to the directives of the wise leadership, succeeded in establishing an integrated legislative and organizational system for consumer protection in the country, providing a safe and stable consumer environment, enhancing the growth of the shopping sector, wholesale and retail, and ensuring the application of the best standards for commercial control and enabling consumer protection In all the state markets, in a way that supports the national economy and enhances its competitiveness and sustainability, In line with the targets of the “UAE 2031” vision.

Bin Touq said: “The new platform comes as a continuation of the efforts of the Ministry of Economy and its partners in exercising its supervisory role, and providing all the potentials, tools and technologies necessary to ensure the highest levels of transparency in monitoring the prices of consumer goods and consumer protection, which contributes to increasing consumer confidence in government control, and at the same time the development of consumption Local and stimulating economic growth and market competitiveness, “noting that the platform uses the best applications Technology to achieve more governance, transparency and oversight in the consumer commodity market within the country; As one of the new policy outputs adopted by the state over the prices of basic consumer goods.

“The launch of this platform comes in conjunction with the announcement of the year 2025 to be the year of society, as the platform contributes to supporting the targets this year, by raising the ability of the concerned authorities to monitor and implement the policies approved to provide an appropriate and safe environment for consumers when purchasing basic commodities, and ensuring the arrival of goods At fair prices for all, protecting society from sudden price rises, controlling inflation, and addressing monopoly practices And manipulation, as these efforts are in achieving the benefit of various societal segments in the state, including citizens and residents, and protecting their interests and rights as consumers.

Advanced technical tools for the new supervisory platform
In detail, the platform covers a wide range of consumer cooperatives, hypermarkets and large stores, which represents more than 90% of the volume of internal trade of basic consumer goods in the seven emirates, which enhances the role of the platform in enhancing effective government control over markets and enforcing legislation and relevant policies, and raising The level of transparency in the country’s consumer protection systems and supports price stability and the protection of consumer rights And prohibiting manipulation or monopoly in an instant manner, as well as improving and developing the supervisory tools of the Ministry of Economy and its partners in all emirates of the state according to the latest technologies and practices in this aspect.

The platform uses the latest data collection and analysis technologies, as it provides transparent databases available to all those involved in control in the Ministry of Economy and local departments regarding the prices and movement of basic consumer goods. For any monopolistic practices or price manipulation by some traders or suppliers, with The presence of maps feature to determine the location in an instant manner, which enhances the ability of the authorities to take appropriate measures directly to ensure the integrity and credibility of the market, and provides them with an accurate extrapolation of the reality of price movement and enhances its ability to predict or immediately intervene in the event of any manipulation or imbalances that affect the stability of the local consumer environment .

In addition, the platform contributes to monitoring the quality of the basic consumer goods traded in the markets, including ensuring its compatibility with the approved health and commercial standards and specifications. The platform concerned in the ministry and the economic departments enable the development of time price curves and the monitoring of changes according to the product or according to the origin, and the comparison of prices between the outlets of the sales in the various Emirates as well as between the branches of one port, and obtaining reports and comprehensive and accurate graphs from them, which enhances its role as a supportive digital and cognitive tool In government plans to face inflation in consumer goods prices.

The launch of the platform comes after the start of the actual application of the new pricing policy at the beginning of this year under Cabinet Resolution (120) of 2022 regarding the rules and controls of pricing consumer goods, which specified nine basic consumer goods, including cooking oil, eggs, dairy, rice, sugar, poultry, legumes, bread, wheat, and include These goods are some of the associated sub -commodities, so that their prices can only be increased With the prior approval of the ministry, while the rest of the goods and products in the state markets are subject to the rules of competition in supply and demand and market mechanisms.