Sustainability Droughts could cost Tunisia $1bn annually Water shortages in Tunisia could cost the North African country up to $1.3 billion annually by 2030, according to a report from the World Bank. For the sixth year in a row, below-average rainfall impacted the country’s agricultural production. The sector’s value fell 9 percent in real terms in the first half of this year […] November 7, 2023
Agriculture Qatar food giant mulls $1.5bn Egypt dairy farming project The largest dairy food producer in Qatar is exploring plans to invest up to $1.5 billion in a farming project in Egypt. Baladna, which is listed on the Qatar Stock Exchange, and the Suez Canal Authority have signed a memorandum of cooperation for the proposed development in Egypt’s south-west region. The farm would have 20,000 […] October 31, 2023
Opinion Economy Bridging investment between the Gulf and Africa Building investor confidence in Africa as a viable business destination is paramount October 20, 2023
Industry UAE agribusiness in talks to acquire land in Egypt Emirati agribusiness Al Dahra is in talks to acquire more agricultural land in Egypt, two sources with direct knowledge of the matter said, in a deal that could reduce Cairo’s dependence on imports of staple crops but also reignite water use concerns. The sources did not say how close a deal might be, but the […] October 18, 2023
Agriculture Dubai’s Expo City to open ‘urban farm’ at Cop28 Expo City Dubai plans to open an urban farm at Cop28, demonstrating agricultural technologies being adopted in the UAE. The farm – more details of which will be unveiled in the coming weeks – is one of several decarbonisation initiatives planned for the climate change summit and beyond, Matt Brown, Expo City’s sustainability chief, told […] October 17, 2023
Agriculture UAE bank invests $196m in food security projects State-owned Emirates Development Bank (EDB) has approved over AED721 million ($196.29 million) in financial support for food security projects since the launch of its new strategy in April 2021. The bank has allocated AED30 billion to support 13,500 small and medium-sized enterprises (SMEs) in five priority sectors: manufacturing, renewables, technology, healthcare, and food security. Bank […] October 11, 2023
Industry Egypt to lower commodity prices by up to 25% Egypt’s government and the country’s private sector have joined forces and agreed to lower the prices of seven essential commodities by 15 to 25 percent, according to a local media report. The new initiative will initially focus on beans, lentils, dairy products, white cheese, pasta, sugar, cooking oil and rice. In addition, prices of live […] October 10, 2023
Video length: 01:23 Exclusive Food & Drink Talented Emiratis don’t have appetite for food-related jobs Working in the UAE’s food and agriculture businesses is not “very attractive” for Emirati students and the industry must do more to attract local talent, according to the chief of a Dubai Chamber-run food entity. “Nationals don’t even represent two percent of the overall workforce in the food sector,” Saleh Lootah, chairman of the F&B […] September 28, 2023
Agriculture China and Arab states sign $471m worth of agri deals A total of 34 deals worth AED1.73 billion ($471 million) were signed at the China-Arab States Expo, promoting cooperation and development in the agricultural sector. Agriculture has become an important part of China-Arab cooperation, and trade in agricultural products has recorded steady growth, the UAE state-run Wam news agency reported, citing the China Economic Net […] September 25, 2023
Agriculture Resilient foxtail millet could aid Gulf food security Researchers in Abu Dhabi have identified what they claim is a highly climate-resilient cereal crop – never farmed at scale before in the Middle East – that could pose a solution to the region’s escalating food security problem. Michael Purugganan, professor of biology at NYU Abu Dhabi, and his team published a study this summer […] September 12, 2023
Industry World food price index at two-year low The United Nations food agency’s world price index fell in August to a new two-year low, reversing a rebound seen the previous month, as a decline in most food commodities offset increases for rice and sugar. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food commodities, averaged 121.4 points in August against a […] September 10, 2023
Agriculture UAE fish farm angles for $200m to produce Atlantic salmon A fish farming company in the UAE aims to raise $200 million to produce Atlantic salmon locally. Ocean Harvest needs the investment to build a 100,000 square metre facility in Ras Al Khaimah. Jawad Jamil, co-founder and CEO of Ocean Harvest, said they were appealing to sovereign wealth funds across the Mena region, impact and […] September 7, 2023
Industry Philippines rules out import on ample sugar stocks The Philippines has plentiful stocks of sugar as it enters a new crop year this month and thus has no immediate plans to import any additional volume, the chief of the industry regulator said on Thursday. “At this very moment, as the milling season starts, we have very ample two-month buffer stocks. For crop year […] September 7, 2023
Industry Turkey and Russia seek to revive grain export deal Russian President Vladimir Putin will hold talks with Turkey’s Tayyip Erdogan on Monday in the Black Sea resort of Sochi as Ankara and the United Nations seek to revive a Ukraine grain export deal that helped ease a global food crisis. Russia quit the deal in July – a year after it was brokered by […] September 3, 2023
Agriculture Red Sea Global farm co-op builds on Saudi food plans Saudi Arabia’s Red Sea Global has set up a farm cooperative to supply its resorts, amid wider plans to boost farming and food security. The Red Sea Farm Cooperative, also known as Tamala, aims to build on Saudi Arabia’s record agricultural production levels that were achieved last year. Farmers will be able to sell their […] September 1, 2023
Analysis Agriculture Inside the $100m plan to transform desert farming Total cropland in Mena countries decreased by 2.4 percent between 2003 and 2018 – the sharpest drop in the world – according to satellite imagery. In response, a Beirut-based multilateral is seeking $100 million for a new programme to enhance innovation to increase farming productivity in a region that already had the lowest cropland […] August 29, 2023
Agriculture Gulf’s many-layered reaction to India’s new onion export tax Omani farmers could be one of the few beneficiaries of India’s decision to impose a 40 percent export duty on onions, while UAE restaurateurs are bracing for another hike in food costs. India is the world’s biggest exporter of onions, but a lack of rain this summer has affected harvests and prices have already risen […] August 22, 2023
Industry Egypt set to launch sugar trading on local bourse Egypt’s commodities exchange has invited companies to register to trade sugar on the bourse, which already offers yellow corn and wheat. Sugar will be offered on the exchange starting Thursday, exchange head Ibrahim Ashmawy said in a statement, adding that the move was in line with a government mandate “to regulate the markets of strategic […] August 17, 2023
Opinion Agriculture Why Arab countries must adopt FDI in agriculture Food security worldwide must come into governments' strategies August 16, 2023
Analysis Economy Algeria’s GDP growth to slow as oil production dips Algeria’s economic growth is expected to slow this year and in 2024 as oil production drops. Analysts at BMI, formerly Fitch Solutions, forecast that the country’s real GDP will be 2.1 percent in 2023 and 1.9 percent next year – down from 3.3 percent in 2022. Algeria’s hydrocarbon production – made up of one-third gas […] August 16, 2023
Industry UAE signs $500m deal to supply wheat to Egypt UAE-based agribusiness Al Dahra and the Abu Dhabi Exports Office (Adex) have signed a $500 million deal to supply Egypt with wheat. The five-year agreement, worth $100 million per year, will provide Egypt with imported milling wheat from the UAE “at competitive prices”. Egypt, a major buyer of basic commodities, has been suffering from a foreign currency crunch after […] August 15, 2023
Industry Olam unit’s Singapore and Saudi listing likely in 2024 Singapore-based commodity trader Olam Group is targeting the dual listing of its agricultural unit in Singapore and Saudi Arabia by the first half of 2024, according to CEO Sunny Verghese. “Olam Agri continues to target a first-of-its-kind dual-listing in Singapore and Saudi Arabia by H1 2024, subject to receiving all requisite approvals and prevailing market […] August 13, 2023
