The agri-food sector grew by 11% annually, according to the second report “Investment opportunities in the agri-food sector 2016” published by the Investment Development Authority in Lebanon (IDAL).

The sector has an estimated work force of 21,000 units, which represent the highest part of the industrial sector. 

Bread- and pastry-making products account for about 23% of the agri-food sector. Pastry-making sector follows with 22%, dairy food 16%, starch-based food 8% and alcoholic beverages 7%.

Agri-food export grew by 25% in the last four years, reaching USD 550 million last year. Bread- and pastry-making account for about 18% of the exports, followed by dairy products, fruit and vegetables, oils and alcoholic beverages.

Some 65% of agri-food products was exported to Arab countries, while 23% was exported to European countries.

According to IDAL, there are major opportunities in five sectors: olive oil, dairy products, nuts and dried fruit, wine, and transformed food products. Wine has an estimated market size of USD 41 million, which includes 40 wine companies. Some 32% of wine was exported to Great Britain, 17% to France and 14% to the United States.

(ITALPRESS/MNA).

Source: medNews