UAE residents reel under soaring rice prices
Sunday, 13 July 2008
DUBAI, Jul 12 (PTI): Consumers in the UAE are reeling under the skyrocketing prices of basmati rice, mostly imported from India and Pakistan, which has almost doubled in past few days.
While local retailers and distributors say the authorities are not taking any action against the traders who are allegedly involved in black marketing of rice, the concerned people have promptly denied the allegations.
Sultan Bin Saeed Al Mansouri, Economy Minister of the UAE, denied the reports of black marketing and said varieties of rice are widely available across the country.
"I believe basmati rice is available. The UAE is currently importing close to 8,00,000 tons a year. It is manageable," Al Mansouri was quoted as saying by the Gulf News.
Many countries, including India and Pakistan are now trying to protect their own rice stocks, the minister said and expressed hope that prices may come down soon as the country is exploring alternatives to import.
Meanwhile, rice retailers in the country associate the rise with the recent price policy of the government, when the Ministry of Economy fixed the maximum retail price of a 39 kg. bag, imported from Pakistan at around Rs 1,700. Imposed from March this year, the measure was, aimed at checking price rise.
Undersecretary in the MoE, Mohammed Ahmed bin Abdulaziz Alshihhi said, officials have on Monday inspected several hypermarkets and co-operative outlets in the country.
The rising price of rice may force the citizens of the UAE to go without rice in their daily diet, said a report in Khaleej Times.
While local retailers and distributors say the authorities are not taking any action against the traders who are allegedly involved in black marketing of rice, the concerned people have promptly denied the allegations.
Sultan Bin Saeed Al Mansouri, Economy Minister of the UAE, denied the reports of black marketing and said varieties of rice are widely available across the country.
"I believe basmati rice is available. The UAE is currently importing close to 8,00,000 tons a year. It is manageable," Al Mansouri was quoted as saying by the Gulf News.
Many countries, including India and Pakistan are now trying to protect their own rice stocks, the minister said and expressed hope that prices may come down soon as the country is exploring alternatives to import.
Meanwhile, rice retailers in the country associate the rise with the recent price policy of the government, when the Ministry of Economy fixed the maximum retail price of a 39 kg. bag, imported from Pakistan at around Rs 1,700. Imposed from March this year, the measure was, aimed at checking price rise.
Undersecretary in the MoE, Mohammed Ahmed bin Abdulaziz Alshihhi said, officials have on Monday inspected several hypermarkets and co-operative outlets in the country.
The rising price of rice may force the citizens of the UAE to go without rice in their daily diet, said a report in Khaleej Times.