Fines of up to AED 200k for breaching poultry price cap

Retailers and suppliers could be hit by fines of up to AED 200,000 if they raise prices on eggs and poultry products by more than 13 per cent.

The Ministry of Economy (MoE) announced last month they were allowing companies to hike prices due to higher production and shipping costs, capped at 13 per cent.

The Ministry also emphasised the move was temporary and would be reviewed after six months.

The Ministry said a penalty of AED 10,000 will be imposed on any company not complying with their mandate, while repeat offenders could be hit by the AED 200,000 fine.

It also said complaints about any potential violations could be made to their hotline number on 800 1222.

The Ministry monitors the prices of a host of essential food items in the country, including cooking oils, eggs, dairy, rice, sugar, poultry, legumes, bread and wheat and suppliers must seek permission for any price hike on the listed items.