UAE trader Farzana Trading anticipates considerable growth in Dubai in the coming years, despite the tough trading conditions currently plaguing the market.
With the Russian market closed, everything is coming into Dubai, according to the company’s business development director, Ayoub Al Sharif. “Suppliers are targeting anywhere that will accept their fruit,” he told Eurofruit. “There are so many traders here that someone will take it. However, we have not imported from anyone new this season.”
For apples, the company is presently selling below cost, he said. “No one wants to buy,” he explained. “It is better to keep these volumes in the coldstore, but that takes up space that other fruit could use.”
Since re-exports are lower than usual, Farzana has elected to focus on the local market, which Al Sharif expects to see impressive growth between now and 2020.
“We are seeing a lot of investment here,” he said. “New hotels and restaurants are opening up, while lots of other projects are starting due to a new canal-building project. Expo 2020 will also be held in Dubai, so the government has decided to extend the metro system. In the next five years, we will see a lot of growth here.”