Dubai: Rice trade in Dubai recorded a 155.3 per cent rise in the first half of this year compared to the same period of last year, according to the Statistics Department of Dubai World.
The total value of Dubai's imports and re-exports of rice reached Dh3.043 billion during the first half of 2008, compared to Dh1.191 billion during the same period of 2007 - an increase of Dh1.85 billion, while the volume rose from 579,000 tonnes to 823,000 tonnes.
This trade surge reflects a radical change in the food habits among a very large segment of the community as a result of the global rise in price for most food materials.
Most families seem to have begun avoiding other food items classified as luxuries.
In addition, rice is a major component of food that can be an alternative meal in the light of the surge in the prices of various food products, not only in the local market, but also at global level.
The Statistics Department figures showed that Dubai's rice imports in the first six months of 2008 rose to about Dh2.287 billion (585,000 tonnes) in terms of volume. It was Dh927 million (445,000 tonnes) during the same period in 2007. Rice re-exports recorded remarkable growth, totalling about Dh755 million (238,000 tonnes) compared to the 2007 period, which were Dhs264 million (133,000 tonnes).
India topped the list of countries exporting rice to Dubai at a value of Dh1.549 billion, accounting for 67.7 per cent of the total trade in the first half of 2008. Pakistan came second with Dh610 million, which is about 26.6 per cent, while Thailand was at third place with an export value of Dh95 million, which is 4.2 per cent of the total trade.
Other countries presented a combined value of Dh32 million, not exceeding 1.4 per cent. Iran had the lion's share in the re-export of rice from Dubai at Dh657 million, which is 87 per cent. Iraq comes second at Dh40 million - 5.4 per cent, followed by the US at Dh8.4 million - 1.1 per cent.
By Staff Reporter
© Gulf News 2008
