SAUDI ARABIA: Auctioneers show off their marketing skills at Buraidah dates festival as hundreds rush to buy one of the world's best ancient desert commodities from across the kingdom

Record ID: 189227

  • Title: SAUDI ARABIA: Auctioneers show off their marketing skills at Buraidah dates festival as hundreds rush to buy one of the world's best ancient desert commodities from across the kingdom
  • Date: 25th August 2013
  • Summary: BURAIDAH, SAUDI ARABIA (AUGUST 21, 2013) (REUTERS ) AUCTIONEERS CALLING ON CUSTOMERS TO BUY DATES AT SUNRISE WIDE OF DATES MARKET WITH FARMERS AUCTIONING DATES BANNER READING (Arabic): BURAIDAH DATES CITY BOX OF DATES WITH ARABIC AND ENGLISH WRITING READING: ALQASSEM DATES VARIOUS OF FARMERS AUCTIONING DATES AT MARKET (SOUNDBITE) (Arabic) KHALID AL GHIDAN, EXECUTIVE DIRECTOR OF BURAIDAH DATES FESTIVAL, SAYING: "The volume of sales expected for this year is more than 2 billion Saudi Riyals, and thank God, the amount of dates that are coming into this market are of good quality, especially that the harvest this season is very, we have big quantities of dates." MORE OF AUCTIONEERS CALLING ON CUSTOMERS TO BUY DATES (SOUNDBITE) (Arabic) ABDULAZIZ AL-TWEGRY, DATES INVESTOR, SAYING: "The auctioneer is the main organiser and leader of the market, the relationship between the buyer and the seller is a difficult relationship and could not succeed in the absence of an auctioneer." PEOPLE CHECKING DATES SHOWCASED AT THE MARKET VARIOUS OF ONE OF THE MOST FAMOUS AUCTIONEERS IN BURAIDAH CITY, IBRAHIM AL GHAITH, AUCTIONING ON TONS OF DATES PEOPLE PAYING MONEY AND NEGOTIATING PRICE OF DATES WITH AUCTIONEER MORE OF AL GHAITH AUCTIONING DATES AT MARKET (SOUNDBITE) (Arabic) FAHAD SULYMAN, DATES MERCHANT, SAYING: "The secret behind the success of Ibrahim is that he does a fair trade between the buyer and the farmer, he doesn't stand with one against the other, when the price of dates is reasonable, he sells them, he doesn't try to raise the prices, he is very fair." VARIOUS OF AUCTIONEERS AND CUSTOMERS AT MARKET VARIOUS OF AL GHAITH AUCTIONING DATES CUSTOMERS AT MARKET/ DATES ON DISPLAY MORE OF AL GHAITH AUCTIONING DATES AT MARKET VARIOUS OF CUSTOMER CHECKING DATES (SOUNDBITE) (Arabic) ABDULAZIZ AL-TWEGRY, DATES INVESTOR AND BOARD MEMBER OF THE NATIONAL CENTRE FOR PALMS AND DATES, SAYING: "Ibrahim al-Ghaith is a case among tens of other cases in this market, a young man who is less than 30-years-old, he started this business less than 5 years ago, but he was able to create a good business out of his hard work, he is the most prominent among other auctioneers. Most of the dates in the market belong to him, he runs more than 1000 cars carrying dates daily with sales volume of more than five to six million Saudi Riyals (USD 1.3 million)." VARIOUS OF AL GHAITH AUCTIONING DATES (SOUNDBITE) (Arabic) IBRAHIM AL GHAITH, DATES AUCTIONEER IN BURAIDAH CITY, SAYING: "The most important thing about the dates trade is honesty, if you are honest with people, people will trust you, if you keep your words with the farmer and give him his money on due date, he will trust you and in return the merchant will trust you in trade, this is what attracts people to an auctioneer, honesty and trust, this is the secret." CUSTOMER CHECKING DATES CLOSE OF DATES DIRECTION SIGNS AT THE MARKET
  • Embargoed: 9th September 2013 13:00
  • Keywords:
  • Location: Saudi Arabia
  • Country: Saudi Arabia
  • Topics: Business,Industry
  • Reuters ID: LVA13T662XKPYFRS92JJORTE084V
  • Story Text: Date merchants and traders from across Saudi Arabia and the Arab Gulf are flocking to Buraidah city, which lies in the remote inner province of Qassim, to buy one of the world's best dates.
    As the annual festival kicks off with high demand, farmers and vendors are hoping to target high sales figures as most of Qassim's 1.8 million residents rely on the palm industry for their main source of income.
    The annual income of the date industry in the area reaches some 2.5 billion Saudi riyal.
    Saudi ranks third behind Egypt and Iran in dates production, based on 2008 figures by the U.N. Food and Agricultural Organization (FAO).
    Khalid Al Ghidan, executive director of Buraidah Dates Festival, said this year's high stock is expected to generate big sales figures.

    "The volume of sales expected for this year is more than 2 billion Saudi Riyals, and thanks God, the amount of dates that are coming into this market are of good quality, especially that the harvest this season is very, we have big quantities of dates," said Al Ghidan.
    The Buraidah dates festival usually takes place during the holy month of Ramadan, making the event the perfect opportunity for people to stock up on dates and date-filled sweets, traditionally consumed during the holy month.
    This year however, it took place weeks after the Islam's fasting month due to the early arrival of Ramadan which falls 10 days earlier each year.
    The festival kicked off on Tuesday (August 20) and will last until September 20.
    During the duration of the fair auctioneers show off their products as eager customers gather around bidding.
    The dates trade is believed to be very reliant on the auctioneer and the way he deals with the customer.

    "The auctioneer is the main organiser and leader of the market, the relationship between the buyer and the seller is a difficult relationship and could not succeed in the absence of an auctioneer," said dates investor Abdulaziz al-Twegry.
    One of the most famous auctioneers in Buraidah market is Ibrahim al-Ghaith.
    He is renowned for his honesty and fairness to both buyers and sellers.
    Filling one pickup truck after another, al-Ghaith stands on his truck filled with the finest produce and shouts out the prices of his wares.
    In their search for the best dates deals, many choose to deal with al-Ghaith, such as merchant Fahad Sulyman.

    "The secret behind the success of Ibrahim is that he does a fair trade between the buyer and the farmer, he doesn't stand with one against the other, when the price of dates is reasonable, he sells them, he doesn't try to raise the prices, he is very fair," said Sulyman.

    "Ibrahim al-Ghaith is a case among tens of other cases in this market, a young man who is less than 30-years-old, he started this business less than 5 years ago, but he was able to create a good business out of his hard work, he is the most prominent among other auctioneers. Most of the dates in the market belong to him, he runs more than 1000 cars carrying dates daily with sales volume of more than five to six million Saudi Riyals (USD 1.3 million)," added al-Twegry.
    Farmers say the festival provides buyers with the best prices because of high competition, with dates being sold at a much lower than prices found than in shops.
    As he attracts more and more buyers to his produce, al-Ghaith says what makes him popular is his good reputation which is known to both the buyer and the farmer.

    "The most important thing about the dates trade is honesty, if you are honest with people, people will trust you, if you keep your words with the farmer and give him his money on due date, he will trust you and in return the merchant will trust you in trade, this is what attracts people to an auctioneer, honesty and trust, this is the secret," explained al-Ghaith.
    The Buraidah initiative is part of a government push to preserve the importance of date production in the country.
    There are more than six million palm trees planted in the Qassim province, north west of the Saudi Kingdom. According to experts, more than half of which are productive.
    Officials hope that expanding the palm date trade in Buraidah, will help improve the economy of a region less developed than other parts of the world's biggest oil exporter.
    The festival kicked off on Tuesday (August 20) and will last until September 20.
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