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Over 500 companies operate in Dubai's spices trading sector

More than 500 companies are currently operating in Dubai's spices trading sector, new data has shown.
In its latest report, the Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, revealed that 514 companies operate in the spice trade sector in Dubai. Of the 514 companies, 375 licences were issued for 'Trading of spices', 132 for 'Packaging of spices', and seven for 'Preparation of sauce and spices'. The first three companies were established in 1963 and are still operational. Despite the growth in imports of spices, locally produced spices have been able to compete and sustain growth. This is evidenced by the increase in the number of local brands and the continued growth in demand with the products serving as basic food items for Emiratis, Arab, Asian and European families living in the country.
The report also showed that Indians led the top 10 nationalities investing in this sector followed by the citizens of Kuwait, Pakistan, Saudi Arabia, Egypt, Lebanon, Jordan, USA, Britain and France. The number of investors in the spices sector stands at 2,642 including 2,497 businessmen and 145 businesswomen.
- business@khaleejtimes.com