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Sunday, 21 February 2010

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Dubai will not intervene in pricing perishables

The Dubai municipality will not intervene in the pricing of perishables in the Emirate, which will continue to be determined by the competitors in the market, a senior Dubai Municipality official told Khaleej Times recently.

As Dubai is a free market economy, like all commodities, fruit and vegetable prices in the Emirate are left to the traders.

Speaking to Khaleej Times on the sidelines of the launch of World of Perishables 2010 (WOP) Exhibition, Abdulla Mohammed Rafia said Dubai Municipality doesn't believe in price control, because most pricing systems in the world have failed. We have built a competitive market and we let competition and quality to determine the prices, informed Rafia, who is the Assistant Director General of Dubai Municipality for General Support Services Sector.

When informed that the constant fluctuation and variation in prices might affect consumers, Rafia said food prices in Dubai are excellent.

There is no problem with prices, there might be marginal differences in prices from place to place, still they are acceptable. However, consumers beg to differ. Competition is good but there has to be some kind of controlling system.

Consumers should not be left totally at the mercy of retailers, said Mohammed Ismail, a senior accountant.

Banu, a housewife from India, also agreed: The pricing system here is very confusing, competition should be allowed within limits. But Rafia insisted that food prices in Dubai are among the best in the world and added that those retailers who offer products at a higher price run the risk of losing consumers.

In the food sector Dubai is one of the most competitive markets in the world. There hasn't been a major price hike in the last 15 years except in 2008, but the prices are now back at the old level. However, notwithstanding the constant fluctuation in prices and the continuous economic escalation, people seem to have continued consuming at a phenomenal rate.

Courtesy Khaleej Times

 

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