New decisions this week to strengthen price control mechanisms

The Minister of Economy and Tourism, Abdullah bin Touq Al Marri, stated that the Ministry of Economy and Tourism is in the process of issuing decisions during the current week related to strengthening price control mechanisms in order to enhance market transparency. Bin Touq said that the UAE, under the guidance of the wise leadership, continues to consolidate its position as an advanced regional center for economic activities in the field of food, as it possesses an integrated infrastructure based on global best practices, modern technology, and flexible supply chains. These distinguished components contribute effectively to ensuring the sustainability of the flow of food commodities and their availability in abundant quantities in the country’s markets.

This came during a field visit by Bin Touq, to ​​the Abu Dhabi Vegetable Oils Company, which is considered one of the leading national companies in the food industry sector, as it aims to monitor the efficiency and readiness of food supply chains and the levels of strategic stocks of basic commodities in the country, and to strengthen the partnership between the government and private sectors. He was received by Nirman Shetty, Executive Director of the company; Ismail Mubarak Al Balushi, Director of Personnel Affairs and Relations at the company, and Ramesh Doudt, Director of Manufacturing at the company.
Abdullah bin Touq said: “The food industries, including the vegetable oil industry, represent one of the main drivers for strengthening the national food security system, as they contribute to enhancing the economic and industrial integration of the country, and increasing local production and economic diversification.”

He added: “National companies operating in the food industries sector represent a pioneering model of the advanced Emirati industry, as they rely on the latest production technologies and adhere to the highest standards of quality and food safety, which enables them to expand locally, regionally and globally. In light of the current circumstances, these companies play a pivotal role in ensuring the continuity of food supply chains and the stability of markets, which enhances the country’s readiness to meet the needs of consumers for basic consumer goods, and consolidates the UAE’s position among the top 10 countries in the food security index, in light of the objectives of the “We Are the Emirates” vision. 2031″.

For his part, Falal Amin, CEO of Agthia Holding Group, said: “We were honored to welcome Abdullah bin Touq Al Marri to the Abu Dhabi Vegetable Oil Company, on a visit that reflects the depth of the strategic partnership between the government and private sectors, and confirms our joint commitment to supporting and strengthening the national food security system in the UAE. This visit gains special importance in light of the rapid regional and global changes, which underscore the importance of building more flexible and sustainable supply systems. In Agthia Holding, We continue to work on developing our local production capabilities, and adopting the latest solutions and advanced technologies, to ensure the continued availability of basic food products.”

Abu Dhabi Vegetable Oil Company is one of the entities that support food security in the country, as it contributes to providing basic products and ensuring the continuity of supply chains with high efficiency, thus enhancing the stability of the local market.
During the tour, Bin Touq inspected the various production stages of the company’s factory, starting with receiving crude oils from foreign markets, passing through the refining operations that are carried out according to the latest technologies to remove impurities and improve the quality of the product, all the way to the final packaging stages that are carried out according to strict control systems that guarantee the safety and stability of the product.

Bin Touq was briefed on the advanced operational capabilities of the factory, whose production capacity exceeds 200,000 metric tons annually of vegetable oils, in addition to having storage tanks with a capacity of more than 40,000 metric tons, which enhances the efficiency of inventory management and supports the continuity of food supplies in local and regional markets, in addition to an integrated distribution system that relies on an advanced logistical network, supply chains, and modern storage facilities, as the company and its partners distribute to approximately 17 brands of edible oils, including This includes packaging and manufacturing of third-party brands.

For its part, the company briefed the Minister of Economy on the expansion of its work and expansion in regional and international markets, as its products cover the Gulf Cooperation Council countries, the Middle East, Asia, North Africa and the Horn of Africa, and serve various sectors including retail trade, food industries, the hospitality sector, government institutions and international organizations.

It is noteworthy that the value of the UAE’s trade in food commodities and manufactures is 148.6 billion dirhams during the year 2024, with a growth rate of 16.8% compared to 127.2 billion dirhams in 2023. National food exports also achieved a growth of 10.9% to reach 24.2 billion dirhams last year compared to 2023.