Every year, a considerable number of Muslims, out of the over 1 billion Muslims with the ability to fast, participate in the many spiritual events of the Islamic calendar’s 9th month. Because they have the largest Muslim populations, Indonesia, Pakistan, India, Bangladesh, Nigeria, Egypt, Iran, Turkey, Algeria, and Sudan are likely to have a huge number of Muslims participating in various activities throughout the month.
Food and drink are required during Suhoor and Iftar, in addition to participating in various spiritual activities during the day and night. Muslims are not expected to fast without eating or to terminate their fasting at the right time without eating, according to the etiquette and principles of fasting. Recent research conducted by the Statista ahead of this year’s Ramadan shows that that the majority of respondents (n=1,009) would be eating freshly-cooked meals for both Suhoor, the pre-dawn meal before fasting starts, and iftar, the fast-breaking meal at the end of the day. The second most-consumed type of food during the Ramadan mealtimes was instant noodles. These and other necessities will be consumed outside of the country. Muslims in other countries are expected to eat and drink according to the available food options, traditions and culture.
As the month begins, research shows that people, particularly Muslims, have shown a strong interest in Ramadan staples including edible oil, chickpea, dried pea, date, and sugar in some of the world’s ten most populous Muslim countries. Our analyst also discovered that global interest in understanding the month and various activities in relation to food and price in the past day was high. Soaring prices of food and other essentials before the month began was one of the issues residents in Asian countries had brought to the attention of governments and other stakeholders. In Pakistan and Bangladesh, the Muslim community had previously urged governments to devise strategic steps to ensure that players in essentials goods do not raise prices excessively.
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Exhibit 1: Types of food consumed Ramadan among Muslims in Indonesia in 2022, by mealtimes
Unexpected changes in global political and economic systems, on the other hand, appear to be important contributors affecting price increases around the world. There is no country in the world that does not face one or more challenges, from the global south to the north. According to numerous specialists who spoke with our researcher, Russia’s recent invasion of Ukraine supported the rise in wheat prices, which is one of the Ramadan essentials. According to them, the effect is being felt in countries such as Lebanon, Iraq, Syria, Sudan, and Yemen, among others, because they rely on wheat imports from Russia and Ukraine.
Despite the political and economic uncertainty, Muslims interviewed by our analyst and those tracked on digital media expect makers and sellers of essentials to be more purpose-driven in their pricing approach during the month. This is based on the fact that Muslims who are able to fast must do so, which necessitates a significant financial outlay. They believed that if players took a purpose-driven approach, taking into account the economic realities that everyone is facing and charging reasonable fees, they (players) would receive significant benefits from God.
