Despite reassurances, some consumers hoard products

Despite reassurances, some consumers hoard products

By Majd Othman

KUWAIT: The Ministry of Commerce and Industry and the General Administration of Customs have banned certain food items including frozen chicken, vegetable oils, sheep and livestock in sedans leaving through the land border, amid a global rise in prices of basic goods. Some consumers have started to stock up some foodstuff like rice, meat and canned food, fearing a sudden rise in prices, while others are seeing it as an unnecessary step.

Kuwait Times visited several co-ops to learn more about the situation. Ahmed Al-Azmi, General Director of Al-Fintas Cooperative Society, said although sales are normal, many customers are hoarding products that are running out, such as frozen chicken and oils, causing them to stop offering promotions on such products.

Azmi said high prices worldwide have had a significant impact on inventory, especially as the government continues to ban price hikes, adding multinational companies have increased their prices significantly, reaching up to 30 percent. Abdulaziz Asad, Chairman of the Union of Consumer Cooperative Societies, told Kuwait Times that the current situation is under control in terms of the availability of basic products and price stability, adding there is no increase in demand for basic products.

An expat told Kuwait Times that