Saudi Arabia introduces seasonal markets system for date trading

The National Center for Palms and Dates, in collaboration with the Ministry of Environment, Water, and Agriculture, Saudi Arabia, has introduced the Seasonal Markets System, a mandatory electronic platform designed to streamline and regulate the trading of dates in seasonal markets.

This system aims to enhance the efficiency and quality of market data across all regions of the Kingdom, making registration mandatory for anyone looking to sell, buy, or market dates.

The new platform simplifies the process of completing sales and purchases, recording transactions, safeguarding financial dealings, and choosing marketing service providers. It also enables real-time monitoring of sales, access to a broader range of markets, and viewing average prices in all wholesale date markets.

The center emphasized the system’s importance in achieving its strategic goals by improving the efficiency of seasonal date markets and promoting sustainable development in the palm and date sector through a comprehensive range of agricultural and marketing services.

Targeting farmers, marketers (service providers), and buyers, the system offers several benefits such as improving sales methods, promoting good selling practices, invigorating date markets, attracting buyers, increasing job opportunities, and creating financing solutions in cooperation with relevant entities.

Saudi Arabia is home to over 36 million palm trees, producing more than 1.6 million tons of dates annually, with exports amounting to SR1.462 billion to 119 countries worldwide.

It’s important to note that access to seasonal date markets will only be granted after registration in the Seasonal Markets System, ensuring the protection of all parties involved and enhancing the sector’s competitiveness both locally and internationally.