The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
Importers based in Dubai's Al Aweer Fruit Market said the first shipments were sold out within a few days of arrival.
Earliest varieties of Pakistani mangoes, Sindhri and Almas, have made their way to Dubai. Sindhri is often considered as one of the best varieties of mangoes in the world because of its unique taste, golden colour and its size.
The first shipment of Pakistani mangoes usually arrives in Dubai by the third week of May and by the first week of June the fully ripe fruit hits the shelves of the supermarkets.
Mohammad Afzal, managing director of Bukhamas Trading Company, who has been importing mangoes from Pakistan to Dubai and Muscat for over 40 years, said there has been 10-to-15 days of delay in the mango crop in Pakistan this year.
"We will try to meet our target as the demand in the UAE and other GCC countries is rising," Afzal said, claiming that his company is one of the major importers of mango stocks from Pakistan in the region.
Mangoes from India start arriving in the UAE with the advent of the summer. Kaser, Rajaputri, Dasheri, Badami and India's premier brand Alphonso capture the fruit shelves in the super markets by April. The season of Indian mangoes lasts till June.
Both Indian and Pakistani mangoes dominate the UAE market with almost 70 per cent share, while products from Kenya, Sudan and Australia serve the rest of the market.
Sindhri, Dasheri, Anwar Ratol, Chaunsa and Kala Chaunsa from Pakistan dominate the UAE's fruits shelves until September.
"I hope this year Pakistani mangoes will last beyond September as crop in the Punjab province is yet to mature," says Ijaz Hussain of Lucky Alfa Enterprises, another mango importer.
During the three-month mango season Dubai-based traders import 2.5 million crates through more than 130 ship trips between Karachi and Dubai. A crate of Pakistani mangoes weighing 7-8kg comes for Dh25-30 in the wholesale market.
UAE-based traders imported Pakistani mangoes worth $6 million with an approximate share of 32 per cent in the total Pakistani mango exports in 2014.
Since 2015, export of Pakistani mangoes to the UAE and other Gulf countries dropped significantly when the Pakistan government banned the use of wood packaging including crates, boxes and cases for storing fruits and vegetables.
However, the importers are optimistic that the rising demand in the UAE and other GCC countries would help them surpass their targets.
riaz@khaleejtimes.com
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