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The UAE imported $1.9 billion worth of food and beverage (F&B) goods from Latin American countries in 2020, and there is another $800 million of untapped potential in exports to the emirates, according to a new analysis.
Imports from the region in 2020 accounted for 12 percent of the country’s total food and beverage imports, as efforts were expanded to enhance food security, said Dubai Chamber, using data from the Federal Competitiveness and Statistics Centre (FCSC) and International Trade Centre.
The chamber said Latin America is an important economic partner that can support the UAE to achieve the goals outlined under its National Food Security Strategy 2051, launched in 2018.
The analysis, released at the Gulfood conference in Dubai and published by the FCSC, pegged the untapped potential of Latin American F&B exports to the UAE at $800 million. Animal products are projected to see the highest value by category, followed by horticulture, vegetables, processed food, animal feed beverages, sea animal products and cereals.
The UAE’s F&B exports and re-exports to Latin America reached $18.4 million in 2020, but the chamber said there was a potential for the UAE to export sustainable food production technologies to Latin America.
(Writing by Imogen Lillywhite; editing by Cleofe Maceda)
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