Electronic monitoring to reduce prices

DUBAI // An electronic system for monitoring goods is to be introduced as part of an effort to reduce commodity prices, the Ministry of Economy said yesterday.

"The required infrastructure is being finalised, in collaboration with the Federal Customs Authority, to be operated during the second half of 2011," Sultan al Mansouri, the Minister of Economy, said, according to the state news agency WAM. "We are currently experiencing the pilot phase on a single commodity, which is rice, as a model to be generalised to other goods."

The new system will link the UAE's ports electronically, monitoring 200 commodity prices daily in a collaboration with co-operative societies and major retail outlets, Mr al Mansouri told the Supreme Committee for Consumer Protection for 2011.

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