UAE seafood imports to hit $382m this year

Dubai: UAE imports of seafood products are projected to reach $382 million in 2008, according to a recent study conducted by the Centre for Marketing Information and Advisory Services for Fishery Products in the Arab Region (UAE).

The figures reflect a growth trend that is at par with the current unprecedented growth of the global seafood industry.

Dubai's seafood imports reached 55,050 tonnes at a value of Dh547 million, while exports reached 10,489 tonnes with a total market value of Dh187 million in 2006, reports say. Meanwhile, global export figures have seen a seven per cent increase to reach $92 billion in 2007.

While international seafood exports represent 38 per cent of the 145 million metric tonne global seafood production, the UAE is venturing into several aquaculture and fish farming projects.

"The UAE has been a fishing hub for centuries, and fish has been an important food item and trade commodity with the local per capita consumption recording more than 50 kilograms per year" - one of the highest in the world, according to Asmak International Fish Farming Company. The world average is reported to be about 16.5 kilograms.

A.K. Srikanth, group marketing manager at the Al Kabeer Group of Companies, manufacturer and distributor of frozen food in the Middle East said that the "The UAE's seafood industry is growing, and growing rapidly."

Rising population

He says the growth is fed by population increase, "high numbers of tourists in the country, and a love among the residents for seafood."

"We are expecting the $200 million Dubai sea-food market to serve as a launch pad for several small and mid-size companies, who seek to penetrate into the global scene, while providing a vehicle for new and innovative products to enter the global marketplace," said Raees Ahmad, director, Orange Fairs and Events - organisers of Food Expo 2008 exhibition.

Srikanth said that sea-food is important as an industry.

"In a country with most of its foods imported, fresh seafood is one of the categories that the UAE is self-sufficient in," he said.

He added that the seafood industry would figure large in both imports and exports of the country," while saying that there is still tremendous scope for growth. "Along with increased imports and exports, we will see a lot of investments coming into the processing industry in the UAE," he said.

Seafood is consumed from the basic cafeteria all the way up to the deluxe luxury hotels and restaurants, Srikanth said.

"With the ethnic mix of nationalities in the UAE [both residents and tourists], the range of seafood available here is probably unmatched in most parts of the world."

Seafood Expo 2008 will run from October 27-29, 2008, at the Madinat Arena Conference Hall in Madinat Jumeriah Hotel.