Dubai Sets Up Trading Platform to Boost Food Imports From India
Gulf states import the bulk of their food, largely because their arid climates make crop and livestock cultivation difficult.
(Bloomberg) --
Dubai has established an agricultural trading platform to connect Indian farmers with companies in the United Arab Emirates, as the Gulf Arab country seeks to enhance its food security amid disruption of supply chains caused by the coronavirus.
The Dubai Multi Commodities Centre’s platform, named Agriota and developed with India’s CropData Technology, will enable trading in cereals, pulses, oil seeds, fruits, vegetables, spices and condiments.
The UAE and most other Gulf states import the bulk of their food, largely because their arid climates make crop and livestock cultivation difficult. They also depend on overseas supplies of medical and industrial products.
The UAE has “the ultimate goal of positioning our nation as a world leading hub in innovation-driven food security,” Ahmed Bin Sulayem, the chief executive officer of the DMMC, which runs a free trade zone, said in a statement.
The government has taken several steps to ensure uninterrupted access to supplies since the virus spread around the world. A food-security council coordinates official efforts, including the stockpiling of essential goods. The country is also looking to farm rice to reduce its reliance on purchases from abroad.
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