Saudi Arabia Mobilizes to Boost Dates Exports to China

Dates on sale in Saudi Arabia. (SPA)
Dates on sale in Saudi Arabia. (SPA)
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Saudi Arabia Mobilizes to Boost Dates Exports to China

Dates on sale in Saudi Arabia. (SPA)
Dates on sale in Saudi Arabia. (SPA)

As part of its active strategy for unlocking more markets for its exports, Saudi Arabia is eyeing the Taiwanese market for its dates and dairy trades. The Kingdom is scouting for the most prominent importers in the field while considering the particular mechanism and conditions outlined by China.

Each of the offices of the Saudi General Authority for Foreign Trade in China and the Saudi Commercial Office in Taipei received a copy of the mechanism and requirements for exporting dates and dairy products to Taipei, according to information obtained by Asharq Al-Awsat.

This will aid the Kingdom in filling in its private sector’s dates and dairy industries on major Taiwanese importers in their target market.

The export of dairy products will be carried out with approval from the Food and Drug Administration, which operates under the Chinese Ministry of Health and Welfare.

In importing dairy products that are not included among the specified taxed goods, authorities will apply Article 35 of Taiwan’s food safety and health legislation.

According to the legislation, imports will be subjected to a systematic inspection process based on procedures and the attachment of health certificate documents for products from the exporting country.

As for dates, exports to Taiwan are required to present records signed by relevant and expert authorities. Upon arrival, dates will need to undergo a laboratory examination that tests for pesticides and microorganisms.

The move to boost dairy and dates exports aligns with Saudi Arabia’s national transformation plan, Vision 2030, which chiefly aims to diversify the Kingdom’s economy.

Vision 2030 focuses on capitalizing on natural resources available to the Kingdom other than oil. This includes Saudi Arabia’s prosperous agricultural and farming industries.

The plan seeks to make the Kingdom’s dates production and distribution industries one of the most critical sectors in a new era of national investments that takes Saudi exports worldwide.

According to a report prepared by the National Center for Palms and Dates (NCPD) and the General Authority for Statistics, dates exports in the Kingdom reached 107 countries in 2020.

Compared to previous years, the 2020 results confirm remarkable growth in marketing the Kingdom’s dates and expanding their reach worldwide.



Gold Pulls Back from Near 3-month High as Dollar Regains Strength

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Gold Pulls Back from Near 3-month High as Dollar Regains Strength

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices eased on Thursday from a near three-month peak hit in the previous session, as the dollar regained strength, while investors awaited further direction from US President Donald Trump's administration regarding trade policies.
Spot gold eased 0.1% to $2,751.99 per ounce by 0552 GMT. Prices rose to $2,763.43 on Wednesday, their highest since Oct. 31 when they hit a record high of $2,790.15.
US gold futures shed 0.4% to $2,760.20.
"It's just a technical pullback because the dollar has been taking back on $108 level, triggering some profit-booking, but the undertone for gold is expected to be positive," said Ajay Kedia, director at Kedia Commodities in Mumbai.
Trump has mooted levies of around 25% on Mexico and Canada and 10% tariff on China from Feb. 1. He also promised duties on European imports, without elaborating further.
"How Trump's policies impact gold is whether the combination of tax cuts, deregulation, tariffs, and deportation will amount to a strong inflationary push," said Ilya Spivak, head of global macro at Tastylive.
"If so, Fed rate cuts will be limited and gold is likely to struggle."
According to Reuters technical analyst Wang Tao, gold might have to face resistance at $2,759, which could trigger a correction.
The Federal Reserve is meeting next week against a backdrop of continued economic growth and declining inflation, but faces uncertainties from Trump's proposed policies that analysts see as inflationary.
The US central bank is expected to hold its benchmark interest rate steady at its next policy meeting on Jan. 28-29. Higher interest rates dampen the appeal of non-yielding gold.
European Central Bank policymakers lined up behind further rate cuts, while the Bank of Japan is widely expected to raise rates on Friday.
Spot silver dropped 0.5% to $30.63 per ounce, while platinum shed 0.2% to $944 and palladium dipped 0.7% to $970.55.