Up to AED 200,000 Fine for Violating the Egg and Poultry Price Cap
- Publish date: Wednesday، 12 April 2023
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The Ministry of Economy announced on Tuesday that retailers and suppliers that increase the price of eggs and poultry products by more than 13% could face fines of up to 200,000 AED.
Due to rising production and shipping expenses, the Ministry of Economy (MoE) declared last month that companies would be permitted to raise prices by a maximum of 13%.
Financial penalties ranging from Dh10,000 to Dh200,000 for repeat offenders would be imposed on anyone who violated the law, mainly by increasing prices over the 13% mark. According to the report, some fines had already been issued during inspections to make sure the rules were being followed.
Cooking oils, eggs, dairy, rice, sugar, poultry, legumes, bread, and wheat are just a few of the many vital food products that are under the Ministry's constant watch. Suppliers are required to get Ministry approval before raising prices on any of the aforementioned products.
“We want to ensure that no unjustified price hikes are applied by suppliers and strengthen mechanisms to counter monopoly practices,” said Abdullah Al Shamsi, assistant undersecretary for the Monitoring and Following Up Sector at the Ministry of Economy.
In order to report stores breaking the rules, the UAE residents were advised to call the toll-free number 8001222.
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