UAE’s F&B imports from Latin America reached $1.9bn in 2020

According to recent data shared by the Dubai Chamber of Commerce, the UAE’s food and beverage (F&B) imports from Latin America reached $1.9bn in 2020.

F&B exports from Latin American markets accounted for 12 per cent of the UAE’s total F&B imports in 2020, according to the analysis, which is based on data from the UAE’s Federal Competitiveness and Statistics Centre (FCSC) and International Trade Centre.

Dubai Chamber estimates the untapped potential of Latin American F&B exports to the UAE to be $800m, with animal products projected to see the highest value by category, followed by horticulture, vegetables, processed food, and animal feed beverages, sea animal products and cereals.

The UAE’s F&B exports and re-exports to Latin America meanwhile reached $18.4m. The report also highlighted existing synergies between the UAE and Latin America in the field of food security, as well as prospects for the UAE to export sustainable food production technologies to Latin America and lend its expertise to help countries in the region meet their food security agendas.

The findings were released along the sidelines of Gulfood 2022 which concluded on February 17, and which will be further discussed at the fourth Global Business Forum Latin America which takes place on March 23-24 in Dubai.

Read: Gulfood 2022: UAE’s F&B trade crosses $20bn from January-September 2021

Overall, the the UAE’s F&B trade crossed $20bn in the first nine months of 2021, according to data shared earlier this week by Dubai Chamber of Commerce. Imports accounted for the largest share of the UAE’s F&B trade during January-September 2021 period, amounting to $12.8bn. Exports accounted for $4.1bn while re-exports amounted to $3.3bn.

In 2021, Dubai specifically imported 8 million tons of food and re-exported 6.277 million shipments through all its ports, according to the Dubai Municipality. Dubai also issued 78,812 food export health certificates, while the quantity of food exported last year amounted to 3.272 tons to 157 countries after verifying their safety and compliance with required food safety standards.