Food & Drink Almarai’s $4.8bn push to advance Saudi food security Almarai, the Middle East’s largest dairy farm, will spend more than SAR18 billion ($4.8 billion) under its new five-year strategic plan to achieve food security, which is part of the kingdom’s Vision 2030 goal. “Investment in the food industry contributes to achieving food security in the kingdom and the region,” the company said in a […] March 19, 2024
Industry ADQ-owned food producer Unifrutti expands in Peru Unifrutti, a fresh food producer owned by the UAE’s sovereign wealth fund ADQ, has completed two acquisitions in Peru as part of its global expansion strategy. The company has purchased AvoAmerica Peru and Bomarea from US-headquartered Solum Partners and Alpine Fresh, strengthening its presence in the South American nation. The value of the deals was […] March 10, 2024
Industry Jordan’s Foursan acquires 33% stake in dates exporter A fund managed by Jordanian private equity company Foursan Group has acquired a minority stake in Medjool Village, a local producer and exporter of Medjool dates. Foursan Capital Partners (FCP) II fund acquired 33 percent in Medjool Village, which is the fund’s seventh investment. The value of the deal was not disclosed. Founded in 2012, Medjool […] March 7, 2024
Food & Drink Egyptian food producer plans European expansion An Egyptian food producer is planning to expand into European markets on the back of a significant rise in US sales. City Farm, a frozen fruits and vegetables processor, intends to open representative offices in Germany, Belgium and the Netherlands first. CEO Mahmoud Lamei said the plan followed “remarkable success” in the United States and […] March 4, 2024
Industry Olam delays Saudi listing of agriculture unit Olam Group, which has its headquarters in Singapore, has ruled out listing its agricultural unit on the Saudi stock exchange in the first half of 2024. CEO Sunny Verghese said in August that the company was targeting the dual listing in Singapore and Saudi Arabia in the first half of 2024, which could raise up to […] February 28, 2024
Industry DP World’s $150m complex to bolster UAE food security Global ports operator DP World has commenced construction on an AED550 million ($149.8 million) agriculture terminals facility at Jebel Ali Port, aiming to strengthen food security in the UAE. The complex, developed in partnership with Adroit Overseas Canada and Al Amir Foods, will specialise in storing and processing various agricultural products, including pulses, grains, corn […] February 20, 2024
Aviation Emirates’ catering arm buys out Bustanica vertical farm Emirates Flight Catering, the airline’s catering arm, has bought out US-based Crop One’s interest in the Bustanica hydroponic farm in Dubai, making it a fully UAE-owned business. The farm opened in July 2022 as a joint venture between Emirates Flight Catering and Crop One called Emirates Crop One. The airline catering company says the 330,000 […] February 19, 2024
Agriculture Nadec profit more than triples to $81m in 2023 Net profit at the Saudi farming giant National Agricultural Development Company (Nadec) climbed to a record high of SAR302 million ($81 million) in 2023, more than tripling from SAR96 million a year ago. The profit rise was driven by a stable market environment, good trading performance, operational efficiency and automation, the company said. Yearly revenue […] February 19, 2024
Agriculture Onion prices surge 300% in Oman Onion prices have increased by 300 percent in Oman, primarily due to a ban on exports from India, according to a local media report. Prices rose from 0.14 baisas ($0.36 cents) per kilogramme in 2023 to 0.47 baisas per kilogramme in December of 2023, before surging to 0.6 baisas per kilogramme by mid-February 2024, the […] February 19, 2024
Trade Maharashtra plans food security corridor with UAE The central Indian state of Maharashtra is working to develop a food security corridor with the UAE. The government of Maharashtra, which has 11 million farmers, has linked up with US fund manager Pegasus Capital Advisors for the food trade project. Under their agreement, the Maharashtra authorities will share an operational plan within three months, […] February 14, 2024
Food & Drink Air corridor for Abu Dhabi aims to support food security Abu Dhabi is planning to establish an air corridor for perishable goods in a bid to develop new trade routes and support the UAE’s food security efforts. Etihad Cargo, Abu Dhabi Airports and Abu Dhabi Food Hub – Kezad have signed a tri-party memorandum of understanding. Abu Dhabi Food Hub is the country’s first dedicated […] February 5, 2024
Analysis Agriculture UAE in talks to buy more African land to aid food security The UAE has 14 land acquisition deals in the pipeline, mainly in Africa, as it looks to keep food security high on its policy agenda. It has already signed 56 land agreements, with the first completed more than 50 years ago in Sudan. The 14 deals are subject to either an expression of interest, a […] January 31, 2024
Agriculture Egypt says wheat reserves sufficient for 4.2 months Egypt’s strategic wheat reserves are sufficient for 4.2 months, oil for 5.3 months, and sugar for 5.4 months, said minister of supply and internal trade Ali Al-Moselhi. He noted that about 100 tonnes of sugar had been produced from the cane crop so far and that preparations are under way to receive the beet crop […] January 29, 2024
Industry Oman’s wheat production surges 230% Wheat production in Oman surged by 229 percent to 7,119 tonnes during the harvest season of 2022-23. The total cultivation area reached 6,359 acres, an increase of 160 percent over the previous season, state-run Oman News Agency reported, citing data from the ministry of agriculture, fisheries and water resources. The number of wheat farmers also […] January 16, 2024
Agriculture $300m food processing complex planned for Egypt An entrepreneur has revealed plans to invest $300 million in an industrial agriculture and food complex in Egypt. Ahmed Abou Hashima has teamed up with partners from the US and Germany to lead the project through his Mafi for Agricultural Produce Industries company. He said strategic collaborations have been established with JBT and Cabin Plant, […] January 4, 2024
Analysis Industry Saudi seeks gold in the Aseer hills – for tourism and mining Hidden in the heart of Saudi Arabia’s largest mountain range, the Aseer province was largely unknown to the West until the 1950s. The region’s remoteness helped to preserve its distinctive culture, with early visitors offered crowns of red and orange blooms for sale by its so-called Flower Men. Today tourists are an important part of the […] December 21, 2023
Analysis Agriculture Cop28 funds pave the way for Mena agricultural innovation In 2022 Morocco suffered its worst drought in 40 years. It had a devastating impact on agricultural productivity – the country’s cereal production plunged by 60 percent and 280,000 jobs were lost. Thousands of miles to the east, motorists on the main road from the UAE to Oman see dead and dying palm trees on […] December 15, 2023
Sustainability Neom sets up company to work on Saudi food security Saudi Arabia’s $500 billion Neom giga-project has set up a food company to support the kingdom’s targets for food security and climate change mitigation. Topian, which is wholly owned by Neom, will work on food production, distribution and consumption across five pillars: climate-proof agriculture, regenerative aquaculture, novel foods, personalised nutrition and sustainable food supply. The […] December 11, 2023
Agriculture Agriculture investment fund doubles since Cop27 to $17bn Investment in a UAE and US-led global agriculture and food initiative has reached $17 billion, as the Cop 28 conference saw a slew of developments in the sector. The Agriculture Innovation Mission for Climate (Aim for Climate) aims to address climate change and global hunger through increased investment in “climate-smart agriculture and food systems innovation” […] December 10, 2023
Agriculture UAE companies to develop irrigation project in Morocco Dubai-based Metito Utilities and Tahliya Group, a UAE-based infrastructure company in Africa, have signed an agreement to develop an irrigation project using desalinated water in Morocco. The desalination projects will be powered by renewable energy, the companies said in a statement released during the Cop28 climate summit taking place in Dubai. No financial details on […] December 6, 2023
Sustainability Dairy companies vow to cut methane emissions Six of the world’s largest dairy companies will soon begin disclosing their annual methane emissions as part of a new global alliance launched at the Cop28 summit in Dubai on Tuesday. Nestlé, Danone, General Mills, Kraft Heinz, Bel Group and Lactalis will begin reporting their methane emissions by mid-2024 and will write action plans by […] December 5, 2023
Agriculture RedSea to dig further into Egypt’s agricultural market RedSea, an agtech business based in Saudi Arabia, is prioritising Egypt to transform the North African nation’s agricultural industry. The company has also announced the appointment of Bruno De Oliveira as vice president of Egypt and East Africa as a result of increasing customer demand for its products. RedSea has already installed heat-blocking roofing materials […] November 30, 2023