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FINANCIAL NEWS
GCC organic agricultural market to hit USD1.5b by 2018
24 Apr 2015
(MENAFN) The organic farming marketplace in the GCC is forecast to achieve a record USD1.5 billion by the year of 2018, motivated by changing consumer tastes and healthy lifestyles, Arab News reported.
The forecast is taken from a report issued by Frost and Sullivan. Presently, the United Arab Emirates stands as the second major marketplace for organic foodstuff.
Specifically, the number of organic farms in the UAE increased to 39 by the beginning of 2014; the farms cover 3,920 hectares plots, compared with 218 hectares back in 2007.
“It is our goal to promote and become one of the major pillars for the organic food sector in the coming years,” the director of Hamriyah Free Zone Authority (HFZA) and Sharjah Airport International Free Zone (SAIF Zone) said.
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