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 despite reassurances and continuous action by the ministry of commerce to control prices at co-ops, he has begun to stock up on basic staples in case of any emergency. Another expat, a father of two, bought twice the usual amount of groceries due to concerns about price hikes and food security for his family. He agreed with the decision of the ministry of commerce to ban the export of some products, which contributes to controlling prices.

Meanwhile, some customers believe stocking up on foodstuff is unnecessary. Saad Al-Krebani said he will stock up on food only if there is a shortage of products in the market. Abu Khaled stressed there is no need to fear because there is food security in the country. Jassem Mohammed, another shopper, also refused to stock goods over concerns about their expiry dates.

Haifa Al-Musallam stressed local markets are stable and there is no need to hoard, noting that social media is the main reason for panic buying among people. One expat said her previous experience in stockpiling goods during the pandemic prevented her from repeating the same scenario. "I will not store goods because of the availability of products in the local market and their expiry dates. If prices rise, the co-ops will provide offers on these products," she explained.