Prices of basic commodities are expected to go down this Ramadan because of cut-throat competition among sellers and due to the absence of many customers who are still outside the Kingdom spending their summer holidays. The tight financial situation is also a factor why there will be no increase in prices during this Ramadan season. “There are too many supermarkets and malls now, ushering price-war and stiff competition among them, a situation which is to the advantage of the buying public. This is why prices are expected to go down this Ramadan,” said Sayed Salem, general manager of Farm 9 Supermarket in Al-Khobar. According to Salem, the hypermarkets, particularly the franchised chains, are capitalizing on bulk sales and are lowering their prices. “The supermarket business thrives on prices during special seasons like Ramadan; so that when the big players lower their prices, the others, particularly the local players, follow the same price-downgrading to be able to compete,” he said. He said big supermarkets are launching promotions of all sorts to attract customers starting this weekend. “Some are even selling at lower than the wholesale price, thereby depending on volume sales to break even.” The only items that will be a little expensive are the locally produced vegetables and fruits, according to Salem. He said prices of the imported vegetable items, however, will stay flat. Imported fruits from the Philippines, for example, are very low in prices. Banana is only SR3.50 per kilo, while Philippine pineapple is only SR10 a piece. Among the items that will also be priced low this Ramadan are fresh meat, poultry, soft drinks, sweets, and the basic grocery items like bread, cooking oil, and dairy products. Arabic sweets are plentiful and are also very low in prices. Local lamb meat, tagged above SR30 per kilo months back, will be available from SR29 and below. Lamb meat from Sudan, Pakistan and India will be cheaper at SR22 per kilo, according to Salem. Imported ground beef is now about SR14.95 per kilo. There is also no upward movement in the prices of chicken and eggs in most supermarkets. “Chicken per kilo is still within the range of SR10, more or less, while an egg per tray is about the same price,” the manager of foreign brand supermarket in Dhahran said. This year, dates are plentiful in the market and are very affordable at very low prices, depending upon the variety. Most are harvested from the date farms in Ah-Ahsa, Qatif and Qassim. Supermarkets are already stocking cartons and boxes of dates of various kinds. Price war has also already ensued among soft drinks producers. Two of the well-known brands are already promoting the buy-one-take-one offer. The local drink Vimto now costs only SR72 per case instead of SR90 earlier. “This is a good Ramadan year for our local consumers; there are lots of promotions; prices are lower compared to the previous years; big supermarkets are expanding their sites; it is a buyer's market,” Salem said.
