UAE
Trade in UAE food products amount to AED31.7 billion in Q1 2020
(WAM) — The value of Emirati food products traded in the first quarter of 2020 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.
-
OER Magazines1 month ago
OER, September 2024
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, September 24
-
Uncategorized4 weeks ago
Oman Oil Marketing Company partners with Ihsaan Association to support its activities
-
Commodities1 month ago
Gold Rangebound as Investors Brace for Key US Economic Data
-
Banking & Finance1 month ago
Apple Pay Officially Launched in Oman
-
Oil & Gas4 weeks ago
OQEP Appoints United Securities as Liquidity Provider Ahead of Landmark MSX Listing
-
Investment1 month ago
With Over RO600M in Foreign Investments, Future Fund Oman Unveils the First Batch of Investment Projects with an Overall Value of RO830M+
-
Lifestyle1 month ago
Royal Opera House Muscat Welcomes First Shows of its 2024/25 Season