Indian exports ban takes toll on Dubai
Fruit and vegetables from south India have disappeared from UAE shelves after producers stopped exports from airports in Kerala.
18 major exporters are boycotting exports to Middle Eastern countries after a debate over price, Emirates Today reported.
Suppliers banned exports on Thursday after facing losses following the appreciation of the Indian rupee against the US dollar, to which the UAE dirham is pegged.
According to Emirates Today the Indian rupee has gained 14% against the dollar, leading to complaints from exporters that products are being sold for too little in the Middle East.
Supply contracts were last negotiated in 2003 when the dollar was equal to Rs44, according to Suresh Mathew from the Agricultural Process Food Exporters Association (Apfea). However today it equals just Rs39.
According to Mathew, the association attempted to renegotiate prices but stopped all exports after importers did not respond.
Traders at Dubai’s Al Aweer market told Emirates Today there was an acute shortage of Indian bananas, curry leaves, mangoes, bitter gourds, beans and cucumbers since the ban. Source
18 major exporters are boycotting exports to Middle Eastern countries after a debate over price, Emirates Today reported.
Suppliers banned exports on Thursday after facing losses following the appreciation of the Indian rupee against the US dollar, to which the UAE dirham is pegged.
According to Emirates Today the Indian rupee has gained 14% against the dollar, leading to complaints from exporters that products are being sold for too little in the Middle East.
Supply contracts were last negotiated in 2003 when the dollar was equal to Rs44, according to Suresh Mathew from the Agricultural Process Food Exporters Association (Apfea). However today it equals just Rs39.
According to Mathew, the association attempted to renegotiate prices but stopped all exports after importers did not respond.
Traders at Dubai’s Al Aweer market told Emirates Today there was an acute shortage of Indian bananas, curry leaves, mangoes, bitter gourds, beans and cucumbers since the ban. Source
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