Ibn Touq confirms during a field tour in Abu Dhabi the stability of prices and the availability of strategic goods in sufficient and safe quantities

Abu Dhabi, 31 March / WAM / His Excellency Abdullah bin Touq Al Marri, Minister of Economy and Tourism, confirmed that the UAE, under the guidance of the wise leadership, continues to consolidate its position as an advanced regional center for economic activities in the field of food, as it possesses an integrated infrastructure based on the best international practices, modern technology, and flexible supply chains, and these distinguished components contribute effectively to ensuring the sustainability of the flow of food commodities and their availability in abundant quantities in the country’s markets.

This came during a field visit made by His Excellency to the Abu Dhabi Vegetable Oil Company, which is considered one of the leading national companies in the food industry sector, as it aims to monitor the efficiency and readiness of food supply chains and the levels of strategic stocks of basic commodities in the country, and to strengthen the partnership between the government and private sectors. He was received by Nirman Shetty, CEO of the company, Ismail Mubarak Al Balushi, Director of Personnel Affairs and Relations at the company, and Ramesh Doudt, Director of Manufacturing for the company.

His Excellency Abdullah bin Touq said: “The food industries, including the vegetable oil industry, represent one of the main engines for strengthening the national food security system, as they contribute to enhancing the economic and industrial integration of the country, and increasing local production and economic diversification.”

His Excellency added: “National companies operating in the food industry sector represent a pioneering model for the advanced Emirati industry, as they rely on the latest production technologies and adhere to the highest standards of quality and food safety, which enables them to expand locally, regionally and globally. In light of the current circumstances, these companies play a pivotal role in ensuring the continuity of food supply chains and the stability of markets, which enhances the country’s readiness to meet the needs of consumers for basic consumer goods, and consolidates the UAE’s position among the top 10 countries in the food security index, in light of the objectives of the vision.” “We are the UAE 2031.”

His Excellency Abdullah bin Touq Al Marri stressed the UAE’s keenness to enhance market stability and ensure the availability of strategic goods in sufficient and safe quantities in keeping with various regional and international variables.

His Excellency said in statements to the Emirates News Agency, WAM, that the Ministry is continuously monitoring market developments, stressing its keenness to stabilize prices and reassuring the public that this stability will continue during the coming period.

His Excellency added that the UAE has a high readiness to deal with various scenarios to ensure the uninterrupted provision of basic goods to the public, noting that the Ministry of Economy and Tourism is in the process of issuing decisions this week related to strengthening price control mechanisms in a way that enhances market transparency.

His Excellency stressed that food security represents a national priority and a red line that cannot be crossed, noting that the state’s strategies over decades have focused on establishing an integrated system that guarantees the sustainability of food supplies.

He pointed out that the economic clusters launched by the state last September placed the food industries at the top of its priorities, reflecting the clarity of the strategic direction in this vital sector.

For her part, Her Excellency Badriya Al Maidour Al Muhairi, Assistant Undersecretary of the Ministry of Economy and Tourism for the Support Services Sector, confirmed the availability of basic commodities in various sales outlets across the country, noting that the call center in the Ministry of Economy and Tourism works throughout the week to receive complaints and inquiries, as it has received about 3,000 inquiries since last Ramadan, which were dealt with through the specialized inspection teams.

For his part, Falal Amin, CEO of Food Holding Group, said that the visit reflects the depth of the strategic partnership between the government and private sectors, and confirms our joint commitment to supporting and strengthening the national food security system in the UAE.

He pointed out that this visit is of particular importance in light of the rapid regional and global changes, which emphasize the importance of building more flexible and sustainable supply systems, explaining that Agthia Holding continues to work on developing local production capabilities and adopting the latest advanced solutions and technologies, ensuring the continued availability of basic food products.

Abu Dhabi Vegetable Oil Company is one of the entities that support food security in the country, as it contributes to providing basic products and ensuring the continuity of supply chains with high efficiency, thus enhancing the stability of the local market.

During the tour, His Excellency inspected the various production stages of the company’s factory, starting with receiving crude oils from foreign markets, through the refining operations that are carried out according to the latest technologies to remove impurities and improve the quality of the product, all the way to the final packaging stages that are carried out according to strict control systems that guarantee the safety and stability of the product.

His Excellency was briefed on the advanced operational capabilities of the factory, whose production capacity exceeds 200,000 metric tons annually of vegetable oils, in addition to its possession of storage tanks with a capacity of more than 40,000 metric tons, which enhances the efficiency of inventory management and supports the continuity of food supplies in local and regional markets, in addition to an integrated distribution system that relies on an advanced logistical network, supply chains, and modern storage facilities, as the company and its partners distribute to approximately 17 brands of edible oils, including This packages and manufactures third-party brands.

For its part, the company briefed His Excellency on the expansion of its work and expansion in regional and international markets, as its products cover the Gulf Cooperation Council countries, the Middle East, Asia, North Africa and the Horn of Africa, and serve various sectors including retail trade, food industries, the hospitality sector, government institutions and international organizations.

It is noteworthy that the value of the UAE’s trade in food commodities and manufactures reached 148.6 billion dirhams during the year 2024, with a growth rate of 16.8% compared to 127.2 billion dirhams in 2023, and national food exports also achieved a growth of 10.9% to reach 24.2 billion dirhams last year compared to 2023.

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