Between the latest Gulfood and the previous one, much has changed in the UAE’s food space. As attested by Dubai hosting the world’s biggest vertical farm (up at Dubai South), more parts of the country are coming under cultivation, whether horizontal or vertical. Above are the visitors at the Exberry stand at Gulfood Manufacturing at Dubai World Trade Centre and the exhibition halls in Dubai.
Image Credit: Ahmed Ramzan/Gulf News
2 of 13
Visitors at Unifiller Linxis group stand at Gulfood Manufacturing.
Image Credit: Ahmed Ramzan/Gulf News
3 of 13
Investments are flowing into the space, chasing agri-tech ventures and startups that use hydroponic technology to speed up the growing of things that can be consumed – and even exported – from here. The notion that UAE remains solely a food importing nation is changing gradually. Those sizeeable funding that the sector is receiving makes sure of that. Above, visitors at IIFCO stand.
Image Credit: Ahmed Ramzan/Gulf News
4 of 13
The food industry in the UAE continues to have its moment in the sun (and some rains would be quite welcome too). It’s in this fertile envieonment that Gulfood 2022 has opened, with more than 1,500 exhibtors buzzing through the halls at Dubai World Trade Centre.
Image Credit: Ahmed Ramzan/Gulf News
5 of 13
It’s been a seesaw sort of year for the food trade, with worries about crops and supply chains on one side and the far-reaching fallout from the Russia-Ukraine conflict on the other. Prices had soared on just about every food essential since March, and its collective impact was only reduced because the UAE Ministry of Economy kept daily/weekly tabs on more than 300 consumer items, consumables and those that aren’t.
Image Credit: Ahmed Ramzan/Gulf News
6 of 13
Retailers helped where they could, keeping prices in check. But it’s not been easy, for businesses across the entire food value chain.
Image Credit: Ahmed Ramzan/Gulf News
7 of 13
“We haven't increased our prices as we know the consumer is already burdened with rising inflation,” said Rayyan Rizvi, Managing Partner at Yoko Sizzler. “We are banking on prices coming down further by atleast another 6-10% to make it sustainable.” Will Rizvi and others get their wish?
Image Credit: Ahmed Ramzan/Gulf News
8 of 13
Food industry sources talk about favourable changes in shipping costs, from the peaks of 2020-21. That comes as one big break for retailers, consumers and F&B businesses.
Image Credit: Ahmed Ramzan/Gulf News
9 of 13
Will consumers in the UAE and Gulf feel the benefits immediately? The market is yet to see a consensus to that, with many expecting a further weeks to pass before the actual benefits are sighted. “Food prices have come down, but still not really significant enough, certainly not pre-pandemic level,” said Rizvi. “Overall, the cost of raw materials still remain pretty high, mainly due to the conflict in Europe and oil prices.”
Image Credit: Ahmed Ramzan/Gulf News
10 of 13
Mid-November onwards, food and F&B businesses will have a different sort of adrenaline rush, and something that should rub off well on their top- and bottom-line. Because Dubai and the UAE will be hosting its own share of Doha bound football fans. What could be the size of that inflow? A million plus? Whatever it is, these businesses are ready for some action.
Image Credit: Ahmed Ramzan/Gulf News
11 of 13
And look to that demand spike to get their mind off any lingering worries about their material costs, etc.
Image Credit: Ahmed Ramzan/Gulf News
12 of 13
A lot will certainly change in another few days…
Image Credit: Ahmed Ramzan/Gulf News
13 of 13
Gulfood Manufacturing is the largest and most influential trade show for the food manufacturing sector.
Image Credit: Ahmed Ramzan/Gulf News
This website stores cookies on your computer. These cookies are used to improve your experience and provide more personalized service to you.
Both on your website and other media. To find out more about the cookies and data we use, please check out our Privacy Policy.
