Rice/Food Grains Trading involves the buying and selling of rice and other food grains on a commercial scale. Traders source these commodities from suppliers, manage storage and transportation logistics, analyse market trends, and engage in marketing and sales activities. This business activity ensures the efficient distribution of staple food items and plays a crucial role in maintaining food security and stability in various regions.
The business activities that fall under Rice/Food Grains Trading are:
Wholesale of grains and seeds (4620.01)
This refers to the commercial activity of buying and selling grains and seeds in bulk quantities to other businesses, rather than directly to individual consumers. It involves the distribution of these agricultural products on a larger scale, typically to retailers, food processing companies, and other wholesale buyers. This business activity falls under the category of “Rice/Food Grains Trading” because it specifically focuses on the trading of grains and seeds, which are essential components of the food grain industry. While the term “grains” can encompass various types such as wheat, corn, barley, oats, etc., it also includes rice, which is a primary food grain.
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 4620.01 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4620.01 is exempt from this requirement.
Grains, Cereals & Legumes Trading* (4620.86) Activity Not Available for selection in Meydan Free Zone
This refers to the buying and selling of various types of grains, cereals, and legumes as a commercial activity. This business activity encompasses a broader range of agricultural commodities beyond just rice and includes products such as wheat, corn, barley, oats, lentils, beans, and more. While Grains, Cereals & Legumes Trading covers a wider spectrum of agricultural products, it falls under the umbrella of Rice/Food Grains Trading due to the shared nature of the trade. Both activities involve the trading of essential food staples and are part of the broader food grain industry.Â
- Third-party Approval: No third-party approvals are required for this business activity
- Filing of Economic Substance Return: Business activity 4620.86 is exempt from this requirement.
- Anti-Money Laundering Compliance: Business activity 4620.86 is exempt from this requirement.
Please note the business activity Grains, Cereals & Legumes Trading (4620.86) is not available for selection in Meydan Free Zone.
