Food prices in UAE head skywards

UAE daily Gulf news said an expected shortage in rice would send prices sky-high, with Pakistani rice suppliers threatening to reduce exports if prices are not increased to match Indian products.

The price of cooking oil has risen by 80%, Indian mutton by more than 100%, while cooking gas has increased by 30%, the newspaper said, adding that residents had been forced to shop for groceries in more affordable neighbouring countries.

Meanwhile, Saudi Arabia said it would withdraw subsidies from rice importers if prices continue to increase without good reason.