UAE Food Products Trade Clocked AED31.7 Bn In Q1

June 21, 2020

In the first quarter of 2020, the UAE’s trade in food products totalled AED31.7 billion, according to the latest figures from the Federal Competitiveness and Statistics Authority.

The figures also show that the value of the country’s food imports in the first quarter of 2020 amounted to AED17.98 billion while trade in medicines and pharmaceuticals amounted to AED4.5 billion, including imports worth AED3.55 billion and the rest were exports and re-exports.

The medicines and pharmaceuticals trade in the first quarter of 2020 accounted for some 24 percent of the UAE’s total trade in this category in 2019.

As part of the country’s efforts to achieve food security, the UAE Cabinet formed a working team to study the development of modern agriculture in the country, to support the adoption of modern technologies in the agricultural sector, providing food products that meet the market needs and raising the competitiveness of local products.

The Emirates Council for Food Security adopted a mechanism to monitor food imports to follow their movement within the supply chain, comprising three key phases.

The National Food Security Strategy aims to create a comprehensive national system based on enabling sustainable food production and identifying the requirements of the national food basket that includes 18 key items, in line with required standards that include knowing the levels of local consumption, production capacity, and food requirements.

The strategy also includes 38 long- and short-term initiatives focussing on four strategic areas, which include facilitating global food trade, diversifying sources of food imports and identifying alternative supply sources.

Also Read: UAE Health Services To Resume

Also Read: UAE-Australia non-oil trade up to AED 14.5 bn in 2019

Previous Story

President Kovind, PM Modi Suggest Yoga To Calm The Mind

Next Story

UAE advances in FDI confidence: report

Latest from BUSINESS

Microsoft Cuts Deep

The fresh job cuts come less than two months after Microsoft announced it was laying off more than 6,000 employees…reports Asian Lite

Northeast Is Growth Engine

Scindia also provided updates on the government’s efforts to facilitate the entry of SpaceX’s Starlink service into India. “All due diligence from

India to Empower Global South

India is emerging as a pivotal force in the global transition to clean energy, with Union Minister for New and Renewable Energy,

Maruti’s Global Push Breaks Record

June shipments hit 37,842 units, signalling robust global demand Maruti Suzuki India recorded its highest-ever monthly exports in June, shipping 37,842 units