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UAE dates exporters in a fix

Traders expressing their concerns over the "unwise" decision said that this has led to an unhealthy situation in the dates export market in the country.

"We normally used to buy Iraqi dates for further exports to the Far East and the South East Asia, but this year since the Holy month of Ramadan starts by the end of September, and the Iraqi crop is not expected before the first week of October, we had to rely on Emirati dates," said Muraleedharan, director of Bharth Trading.

The Iraqi Zahedi quality of dates last year was sold at around $250 per tonne CNF (cost and freight) Far East/South East Asia.

Following the decision of Emirates Dates to sell its crop to House of Dates and Al Bilal Trading, the price for Emirati dates, including Sayer and Naghad varieties, which used to cost around $280 last year, has spiralled to $500 per tonne CNF Far East/South East Asia.

The price for the Iraqi crop, which will hit the UAE market in October, is also expected to go up, fetching up to $300 per tonne as many exporters will be heavily relying on that cargo to meet demand of their customers in India, Pakistan, Bangladesh, Sri Lanka, Indonesia and Malaysia. Quantities are scarce because of this monopolistic situation, which is driving the prices up, he said.