Prices of numerous commodities and food products in the UAE are predicted to decline in the upcoming months

Due to increased production and imports after an anticipated excellent monsoon in India, prices of numerous commodities and food products in the UAE are predicted to decline in the upcoming months. 

India is a major supplier of grains, rice, wheat, spices, pulses, and other goods to the United Arab Emirates. Following the Comprehensive Economic Partnership Agreement's signature, trade in these items has significantly expanded (CEPA).

Last Monday, the private weather forecasting company Skymet predicted that India would experience a typical monsoon in 2024 with no El Nino effects. In the south, west, and northwest of India, "sufficiently good rains" are predicted. Because of their strong agricultural industries, Punjab, Rajasthan, Uttar Pradesh, and Haryana are referred to as North India's "farm bowl."

Additionally, under the CEPA signed in 2022, food commodities imported into the UAE from India are eligible for additional duty savings.

India's agriculture industry, which depends mostly on monsoon rains, is expected to yield a large harvest and high-grade products for export. Customers in the UAE may thus anticipate a wide variety of fresh produce, fruits, and spices that are obtained straight from Indian farmers. The costs in the local marketplaces will decrease due to the ample supply from India.