New report shows over 500 companies are currently operating in the spice trade industry in Dubai
More than 500 companies are currently operating in the spice trade industry in Dubai, according to figures released by the Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED).
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 BRL said that the first three companies were established in Dubai in 1963 and are still operational.
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, US, Britain and France.
The number of investors in the spices sector stands at 2,642 including 145 businesswomen while the number of workers in the spices sector has reached 1,210.
"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 BRL said in its report.
Brands that are locally produced or packaged have grown in recent years led by competitive factors including quality and cleanliness, and high standards of packaging, compared to similar Asian products, it added.