Local markets upbeat with salary distribution ahead of Ramadan

AMMAN —  The easing of COVID restrictions the distribution of salaries for many employees before the holy month of Ramadan have facilitated a jump start towards an economic revival in the local market according to the Amman Chamber of Commerce. 

“Signs of an economic recovery are seen in the local food market,” Khaleel Tawfiq Al Haj, Amman Chamber of Commerce president told The Jordan Times. 

Haj stated that the timing of easing restrictions with employees receiving their salaries before the month of Ramadan has contributed “big time” to increased demand for goods, adding that the demand is “much better” than the past two years. 

Haj highlighted that despite the global economic crisis, the overall economic situation in Jordan is “promising”. 

According to Haj, although there is an increase in demand for food items before and during Ramadan, prices remain the same, noting that dairy products as well as fresh fruits and vegetables in addition to meat and chicken have seen a spike in demand. 

“There is high competition between supermarkets in the Kingdom,” Haj stated. 

Haj added that competition between supermarkets promotes market growth as well as economic efficiency, noting that it is beneficial for consumers as it has led to a price reduction for many goods currently available in local markets. 

Haj highlighted that Jordan has enough reserves of foodstuffs, adding that the ongoing coordination between the Government and the private sector has led to more availability of products. 

Additionally, Sa’di Abu Hammad, president of the Merchants Union of Vegetables and Fruits Exporters (MUFVEX), told The Jordan Times that “vegetables prices have been reduced over the past week”. 

Hammad stated that in some areas of Amman a kilo of cucumbers was sold for 300 Fils on Sunday, which is a reduced price in comparison with last week’s prices which reached up to a dinar for a kilo, which can be attributed to the frosty weather conditions.