"Statistics": 40% Compliance Rate of Traders with the Price Guidance List After Half of Ramadan

Special for "SadaNews" - The Central Statistical Bureau confirmed that the compliance rate of traders with the price guidance list issued by the Ministry of National Economy reached about 40% after two weeks into the blessed month of Ramadan.

Asil Zidan, Director of the Prices and Index Numbers Department at the bureau, stated to "SadaNews" that this percentage indicates an improvement in the extent of traders' adherence to the guidance list since the bureau launched the price platform about two weeks before the start of Ramadan, when the compliance rate was only 24%.

Zidan noted that the goods where traders showed improvement by selling them at prices close to the guidance list included short-grain rice in a 25-kilogram package, where the price was 160 shekels before the start of Ramadan. However, after two weeks into the holy month, the price dropped to 153 shekels, noting that the guidance price is 145 shekels, which means there was a difference of about 15 shekels between the guidance price and the market price for this commodity, but the gap has narrowed to about 8 shekels after two weeks of Ramadan.

Prices also improved for a 2-kilogram carton of eggs, with a guidance price of 20 shekels that was sold before Ramadan at 22 shekels but is currently sold at about 18 shekels. There was also an improvement in the price of sugar, with its guidance price set at about 28 shekels, previously sold in the market before Ramadan at around 33 shekels on average, but after two weeks of Ramadan, it is now sold at about 28-29 shekels on average. Additionally, the price of qatayef remains one of the most compliant goods by traders, with a kilo sold at an average of 11 shekels while the guidance price is 12 shekels.

Zidan pointed out the full compliance with the price of milk issued by the Ministry of National Economy, priced at about 20 shekels, indicating that the platform monitored traders' compliance with this commodity before and during Ramadan.

As for the goods still sold in the market at prices far from the guidance list, Zidan noted that the commodity with the least compliance is fresh lamb meat, where the guidance list sets the price per kilo at 90 shekels, while average market prices reach 100 shekels, both before Ramadan and two weeks into the month, indicating a difference of 10 shekels between the guidance price and the market price.

Additionally, the price of frozen lamb was set by the Ministry of National Economy at 55 shekels, but it is sold in the market at an average of about 60 shekels, which means there is a 5-shekel difference for this commodity between the guidance price and the market price.

Zidan also indicated that the prices of tahini and halva remain high in the market compared to the guidance price, as the compliance rate for these two goods is low. There is also weak compliance regarding date paste, sold at 16 shekels per kilo while the guidance price is set at 12 shekels.

Regarding chicken, Zidan explained that its prices fluctuate up and down depending on market offers, but in general, it is sold at prices higher than the guidance price, with the Ministry of National Economy setting the kilo price at 17 shekels, while it is sold at an average of 19 shekels.

The Central Statistical Bureau recently launched an electronic platform to monitor the price movements of several basic commodities during the holy month, in collaboration with the Ministry of National Economy and the Consumer Protection Association. This initiative aims to enhance transparency and provide real-time indicators reflecting the reality of prices in the Palestinian markets.

The platform provides an opportunity to view the developments of certain commodities that see increased demand during Ramadan and compare them to the guidance price issued by the Ministry of National Economy, enabling monitoring of the extent of traders' compliance with the specified prices. Additionally, the platform offers a series of weekly data drawn from Palestinian markets to measure changes in prices on an ongoing basis and track any increases or disparities during the month.

The Ministry of National Economy confirmed to "SadaNews" that the guidance list for goods issued for Ramadan is legally binding for traders and not just for reference.

Abraham Al-Qadi, Director General of the General Administration for Consumer Protection, told "SadaNews" that the ministry has the legal capacity to compel traders to adhere to prices based on the Competition Law and Prevention of Monopoly Practices signed by President Mahmoud Abbas last year, in addition to Law No. 27 of 2018 concerning consumer protection.