Retailer freezes prices of over 70 basic items for 6 months
The Dubai-based retail major Union Coop has announced a price freeze on more than 70 essential products to support UAE residents, especially during the holy month of Ramadan.
Starting from March 29, the price freeze will remain in effect for six months to reduce the burden on consumers.
The essential items include onion, apple, frozen chicken, eggs, flour, oil and many other products. All of these will be highlighted across all the branches of the Union Cooperative.
The UAE'S Ministry of Economy on Thursday said it will follow up and monitor the initiatives announced by cooperative societies and sales outlets in the country, which include discounts on various commodity prices during Ramadan. Customers can avail of discounts of up to 50 per cent on nearly 6,000 commodities selected by these outlets and coops.
The ministry said it has adopted some of the best and most efficient policies to ensure the availability of strategic stocks of all basic commodities to effectively meet the needs of citizens, residents and visitors for longer periods. “This move will not only help consumers welcome the holy month of Ramadan but also be a matter of joy for people struggling with global inflation. Union Coop is working closely with its suppliers to ensure a steady supply of these essential products across all its branches in Dubai,” the governmentbacked retailer said on Friday.
“Due to its dominant position as the largest consumer cooperative in the UAE, Union Coop helps to regulate the prices in the retail market and reduce the burden on consumers by offering quality products at competitive prices,” it added.