Value of Dubais date trade reaches $221.7million in 2016

DUBAI, 15th June, 2017 (WAM) -- Dubais total date trade amounted to US$221.7 million in 2016, of which exports accounted for the largest share, US$85.1 million, followed by imports, US$72.1 million and re-exports worth US$64.5 million.

A recent analysis conducted by the Dubai Chamber of Commerce and Industry shows that the emirates' export share of total date trade stood at 38 percent last year.

The UAEs share of global date exports stood at 8.5 percent, or US$96.3 million in 2015, according to data from Trade Map, making the country the worlds fourth largest exporter of dates.

Southeast Asia and the Middle East and North Africa were identified as the top importing regions for UAE dates. However, North America and Europe were also among the largest date importers.

The analysis pointed out that Dubai's date exports recorded a compound annual growth rate, CAGR, of 34.1 percent between 2011 and 2015. The quantity of dates exported from the emirate in 2016 amounted to 108,300 tonnes, which is slightly below peak levels seen in 2015.

The price of dates exported from Dubai in 2016 stood at US$786 per tonne, while the price for re-exports and imports were US$405 per tonne and US$399 per tonne, respectively.

India accounted for the largest share of Dubai's date re-exports during the year with 63 percent, followed by Bangladesh 13 percent, and Pakistan percent 4 percent, while dates imported to the emirate mainly came from countries within the Middle East and Africa region.

Morocco was the largest importer of Dubai dates in 2016 by value with US$11.7 million worth of dates and 14 percent market share, followed by Oman 13 percent, India 12 percent, Bangladesh 12 percent, and Indonesia 10 percent.

In terms of quantity, Bangladesh was the largest importer of Dubai dates during the same year as its volume of imports reached 17,600 tonnes or 16.3 percent of total exports, followed by India 15.6 percent, Morocco 15.3 percent, and Oman 12.2 percent.

Export prices are dependent on the quality of dates and trade costs. In 2016, 77 percent of the dates exported by Dubai fell into the categories of high-quality, fresh and chilled.

Although dates are primarily consumed in Muslim countries, European and North American countries are also among the worlds largest date importers.

The analysis highlighted the need to diversify UAEs date exports beyond fresh and dried dates to other date-based products such as date syrup, date vinegar, and date paste. In addition, blending dates into chocolate or coffee products has the potential to increase interest and demand among Western countries.

Copyright Emirates News Agency (WAM) 2017.