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Gulfood deals exceed $500m
The volume of deals signed during Gulfood has exceeded $500 million, smashing last year's records, organisers of the hospitality, food and beverage show in Dubai announced yesterday
- By Cleofe Maceda, Staff Reporter
- Published: 00:47 March 3, 2008
Dubai: The volume of deals signed during Gulfood has exceeded $500 million, smashing last year's records, organisers of the hospitality, food and beverage show in Dubai announced yesterday.
"Current total exceeds $500 million and still counting. Contracts made during the show are still being reported and tallied. Organisers expect figures to increase considerably as more information on deals signed at the show is reported," a spokesperson told Gulf News.
"In 2007, the value of deals collated two weeks after the exhibition reached $300 million. But we're barely a few days after the closing of Gulfood and that amount has already been exceeded," the source added.
Koma, a Dutch manufacturer of freezing and cooling systems, reportedly bagged about $2 million worth of deals over the course of Gulfood. Its subsidiary made an additional $1.6 million.
Companies exhibiting under the US Pavilion also sealed a staggering $100 million deals, while a major supplier generated business in excess of $80 million in the first three days of the exhibition.
Brazilian group Nutriza also went home with orders for over 300 tonnes of the Friato chicken brand, as spice importers and equipment suppliers reported strong sales.
Malaysian manufacturers of palm oil-based products, MM Vitaoils and Alami Vegetable Oil Products, won deals worth over $1 million. High demand from countries like Yemen and Kuwait, as well as several African nations, were recorded.
Cafe Canecao, a coffee company, also signed a contract to ship $100,000 worth of coffee to Saudi Arabia. Other companies, such as Sanden Intercool, a manufacturer of refrigerated showcases and freezers, reported strong business with visitors from major target markets.
"This is our fourth year at Gulfood and the exhibition is bigger and better than ever. Our aim was to develop serious business inquiries from Africa, a key market for us, and we have exceeded our expectations," said Manoj Kanaya, Sanden Intercool sales and marketing manager. Show organisers attributed Gulfood's strong commercial performance this year to the record number of visitors, with over 39,000 people registered over the week.
There were also more than 2,500 companies that participated, compared to last year's 2,471 firms.
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