Agro-food is a very promising sector and a main employer in industry

The Afro- food sector has recorded an annual growth rate of 11% between the years 2012 and 2016, according to the ‘Investment opportunities in the food agricultural sector for 2016’ report published by the Investment Development Authority of Lebanon (IDAL). The report indicated that the sector accommodates the largest share of labor force in the industrial sector estimated at 21 thousand workers. In the details, bakeries make up nearly (23%) of the agri-food products, followed by sweets and confectionary (22%), dairies and cheeses (16%) and carbs (8%). During the past four years, the agri-food sector posted 25% growth rate with proceeds reaching USD 550 million, only last year. Bakeries and patisseries products make up 18% of the exports, followed by dairies, fruits and vegetables, olive oil and lastly, the alcoholic drinks, the report added. Moreover, around 65% of the exports of the sector are destined to Arab countries and 23% to Europe. In conclusion, IDAL pointed out to promising prospects in 5 sub-sectors within the agricultural food industry, and they are: olive oil, dairy products, nuts, dried fruits, in addition to wine and wine made products. The market value of the wine industry, according to IDAL always, stands at nearly USD41 million (covering some 40 wineries), noting that wine exports to Britain account for 32% of the total, France (17%) and USA (14%). (Al Akhbar, November 2, 2016)