Oman Authorities Warn Retailers Over Food Price Increases During Ramadan
As shops prepare to stock up for Ramadan, Oman’s residents fear that food prices will increase during the fasting month, following a trend of previous years.
While shop owners prepare for the most profitable month of the year, consumers say food prices are already rising as people plan their Ramadan shopping.
Shop owners have defended the price increases and said the market is paying for the higher cost of the supply chain during the fasting month.
But supply chain operators deny that they have increased the cost of transporting goods before Ramadan.
Experts said inflation compounded the food price increases this Ramadan season, although retailers still take advantage of the rise in demand during the fasting days to raise prices.
A spokesman from the Ministry of Commerce, Industry and Investment Promotions said it would start inspections from mid-March to make sure shops do not take advantage of consumers. He said a fine of 2,000 rials ($5,000) would be imposed on offenders.
