Saudi Arabia Mobilizes to Boost Dates Exports to China

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

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.



Oil Dips on Worries China Stimulus Plans Not Enough to Boost Demand

FILE PHOTO: The PetroChina logo is seen near a car charging at the Chinese state oil giant's electric vehicle (EV) charging station in Beijing, China February 2, 2024. REUTERS/Florence Lo/File Photo
FILE PHOTO: The PetroChina logo is seen near a car charging at the Chinese state oil giant's electric vehicle (EV) charging station in Beijing, China February 2, 2024. REUTERS/Florence Lo/File Photo
TT

Oil Dips on Worries China Stimulus Plans Not Enough to Boost Demand

FILE PHOTO: The PetroChina logo is seen near a car charging at the Chinese state oil giant's electric vehicle (EV) charging station in Beijing, China February 2, 2024. REUTERS/Florence Lo/File Photo
FILE PHOTO: The PetroChina logo is seen near a car charging at the Chinese state oil giant's electric vehicle (EV) charging station in Beijing, China February 2, 2024. REUTERS/Florence Lo/File Photo

Oil prices fell on Wednesday as investors reassessed the ability of China's stimulus plans to boost the economy enough to drive more fuel demand growth in the world's largest crude importer.
Brent crude futures were down 19 cents, or 0.25%, at $74.98 a barrel at 0700 GMT. US West Texas Intermediate crude was down 28 cents, or 0.39%, at $71.28 per barrel, Reuters reported.
Prices rose about 1.7% on Tuesday after China announced its most aggressive economic stimulus since the COVID-19 pandemic, with interest rate cuts and government funding.
Analysts, however, warned that more fiscal help was needed to boost confidence in the world's second-largest economy and that eroded the initial impact on oil prices.
"The lack of a more concrete fiscal approach still instils some reservations over whether the economic boost can be sustained," said Yeap Jun Rong, market strategist at IG.
Yeap said there was an overall lack of traction to the oil market, with trades lower than usual, which was likely also due to a drop in US consumer confidence. It fell in September to its lowest in three years, with particular concern about the availability of jobs.
Still, declining US crude oil and fuel stockpiles provided some support for the market, which has generally risen since prices hit their lowest since 2021 on Sept. 10.
US oil stockpiles dropped by 4.34 million barrels last week while gasoline inventories fell by 3.44 million barrels and distillate stocks fell by 1.12 million barrels, according to market sources citing American Petroleum Institute figures on Tuesday.
An intensifying conflict in the Middle East between Iran-backed Hezbollah in Lebanon and Israel also supported crude prices, with cross-border rockets launched by both sides increasing fears of a broadening war in the key producing region.
A hurricane threatening the US Gulf Coast has changed course towards Florida and away from oil and gas-producing areas near Texas, Louisiana and Mississippi.