Minister of Commerce and Industry Dr. Hashim bin Abdullah Yamani said inspectors from his Ministry of Commerce are surveying the commodity market on the eve of holy month of Ramadan to make sure that all needs of fasters are available in moderate prices. Citing reports by inspecting teams of his ministry, Dr. Yamani said no shortage of any vital commodity was reported. On the contrary, all goods are available in various alternatives helping to push prices down according to the principle of demand and supply, he said. Competition among foodstuffs big stores has contributed to bringing down Ramadan-consumed goods, the report added. According to the report, prices of basic foodstuffs for the third quarter of this year soured in comparison of last year's same period. It cited the increase of import costs including rice, powdered milk, plant oil and meat and a reduction of prices of other commodities like sugar by 9.2 percent. As for Ramadan-related goods, the report noted moderate prices, the Minister said. However, the Ministry's teams were strictly instructed to intensify their inspection visits to markets and big stores throughout the Kingdom, particularly in Makkah, Madinah, Jeddah and Taif, home of Umrah worshippers and visitors, to make sure that all needs of foodstuffs are available in competitive prices according to market mechanism, he said. Saudi Arabian consumer market is open giving room for prices to be decided by the competitive market that definitely goes in favor of consumers, the Minister said citing low prices of Ramadan commodities at big stores.
