Farmers and traders have so far made more than SR800 million from the sales of various types of dates.
Prince Faisal bin Mishaal, deputy governor of Qassim, inaugurated the festival, the largest in the world featuring more than 200,000 tons of dates worth SR2.5 billion. The festival plays a big role in boosting the province’s economic development.
Different varieties of dates become ripe by September, coinciding with the market’s peak trading period.
“We expect a 20 percent increase in supply during the festival,” said Khaled Al-Naqidan, CEO of the festival.
The market covers an area of 300,000 sq. meters that can accommodate more than 2,000 trucks and cold-storage vehicles. The market operates around the clock, receiving clients from different parts of the Kingdom as well as from neighboring Gulf and Arab countries.
An average of 1,500 trucks carrying 160 tons of dates come to the market every day. In some days, 2,400 trucks carrying dates have entered the market.
On certain days the value of sales exceeded SR27 million. The festival offers more than 45 varieties of dates, mostly produced in Qassim farms.
Prices vary between SR25 and SR400 per kg depending on variety and quality. The sukkari (sweet) type attracts the largest number of customers.
A number of new varieties such as Nabtat Ali, Khalas, Saqae, Barhi, Wanana, Sabaka, Rashoudia, Aseela, Routhana, Maktoumia, Khodari, Qetara and Shaqra are expected to reach the market in the coming days.
“We expect a tremendous increase in sales this week and the coming weeks due to the presence of new varieties of dates and with the arrival of more farmers, traders and investors,” said Al-Naqidan.
He hoped that the increase in supply would bring down prices. At present sukkari dates are sold for SR55 to SR130 for a 3 kg packet while the galaxy type is sold for SR200 to SR350 per 3 kg.
About 95 percent of dates supplied were sukkari. Some sukkari varieties were for sold for SR800 per 3 kg box.
“We are monitoring the market to make sure that only good quality products are sold in the market,” Al-Naqidan said.
Saudi Arabia has the highest number of palm trees in the world with more than 23 million accounting for 20 percent of world production. There are more than 6 million date palms in Qassim province alone.