Ministry of Commerce urged to monitor consumer goods prices

Sulaiman Al-Oyaeri, a member of the Saudi Economic Association, has urged the Ministry of Commerce to ensure reasonable prices of basic consumer goods at commercial outlets. “The ministry’s move to enforce price-tagging is only a simple part of price control,” he said.
There is a considerable contrast among the prices of different retail outlets in the local market, including major, medium and small ones. “A major part of price control lies in procedures to detect counterfeit and commodities that are present in the retail sector, especially at small outlets.”
Al-Oyaeri stressed a consumer must be smart and recognize attempts of exploitation. “A consumer must compare prices and avoid shopping (in large quantities) at small outlets except for daily requirements.”
He said the foodstuffs market is witnessing a recession these days as the summer holiday is ending and people’s attention is shifting from Ramadan and Eid Al-Fitr season’s requirements to the back-to-school period. Foodstuff traders are anticipating the start of school with the hope it would have a positive impact on the market that has been idle for the last few days despite price declines.
“Sales of all commodities declined these days. The demand is much lower than it was in Ramadan and Eid, and prices have declined as a result,” said Thyab Tout, sales director at Anisa Bukhari for foodstuffs. “A box of imported chicken, for example, that was sold for SR115 less than a month ago is now sold for SR85,” he said, adding that the price decline included cooking oil, sugar, eggs and grains.