Due to the high demand for certain food items during the holy month of Ramadan, consumers here expect prices to increase as they usually do at this time every year. However, wholesale traders and retailers in the Eastern Province say that for a variety of reasons food prices are decreasing this year and there is little chance of a price hike in Ramadan. “Since the global economic recession began, the prices of essential commodities, especially food items, have been going down and there is no chance of an increase during Ramadan. Consumers need not worry. Prices are already down and they should stay that way,” a wholesale trader in downtown Dammam told Saudi Gazette . He added that “a 45-kg bag of Thai rice, which is popular with Saudis and expatriates, was selling three months ago for SR154 whereas now you can buy the same bag for SR94.” There is a big demand for Indian rice in the local market, and the prices of most basmati rice varieties have gone down by 10 to 15 percent in the last month. Edible sunflower oil which sold for SR120 a carton in the wholesale market, is now selling SR105 a carton, and corn oil which was SR90 is now SR75. The same downward trend can be seen in milk powder and eggs which will be used to prepare special dishes during the month of Ramadan.” Wheat flour products, rice, varieties of nuts, sweets, milk powder, and dates will be in high demand at the beginning of Ramadan. Wholesalers, retailers, hypermarkets, and supermarkets have started to stock these essential Ramadan items. Despite the assurance of EP retail and wholesale traders that there will be no price hike in food items during Ramadan this year, many consumers are still unconvinced and say they fear an immediate price increase citing the high demand for food items and lack of stock available in the market. Ramadan is a month of simplicity and fasting but it is well known that in the Muslim World food consumption increases. The Kingdom also sees an increase in food consumption during the month, and hypermarkets and supermarkets in the Eastern Province have already begun hanging “Welcome Holy Ramadan” signs in their stores and distributing pamphlets advertising special discounted offers to attract customers.
