India overtakes Brazil in food export to the League of Arab nations
According to the data provided by the Arab-Brazil Chamber of Commerce to Reuters on Tuesday, India surpassed Brazil in food export to the League of Arab States for the first time in 15 years as the COVID-19 pandemic disrupted trade flows in 2020.
Brazil’s most important trade partners are the Arab nations, but its distance from those markets took its toll as the pandemic rattled global logistics.
India captured 8.25 percent of the trade of the total agribusiness products imported by the 22 League members, while Brazil accounted for 8.15 percent of the total agribusiness products.
Despite remaining competitive “from the farm gate in,” Brazil lost ground to India and other exporters such as Turkey, the United States, France, and Argentina amid a disruption of traditional shipping routes.
Dubai’s free-zone Dubai Multi Commodities Centre (DMCC) and the government of Dubai’s authority on commodities trade and enterprise had launched ‘Agriota’, a new technology-driven agri-commodity trading and sourcing e-market platform.
This came as an opportunity for millions of Indian farmers to connect directly with the entire food industry in the UAE, including food processing companies, traders, and wholesalers through the Agriota-E-Marketplace platform.
Overall, India has seen a rise in merchandise exports for November by 26.49 percent to USD 29.88 billion on account of healthy growth in sectors such as engineering, petroleum, chemicals, and marine products, according to provisional data released by the government on Wednesday.
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