Agriculture UAE food companies aim to stack up 500 vertical farms Two UAE companies have signed a deal to roll out 500 vertical farms across the Middle East. Crysp Farms, which provides vertical farms to hotels and resorts, has made the five-year agreement with agtech business Alesca Technologies. The companies said the partnership would “significantly improve the efficiency of vertical farming” and provide more than 130 […] November 26, 2024
Analysis Agriculture Turkey’s olive growers mine liquid gold Turkey is likely to set a new record for olive oil output this year, as millions of new trees planted in a drive to expand supply reach maturity. The crop should consolidate the country’s position as the one of the world’s largest olive oil producers. This year, Turkey is on course to produce around 475,000 […] November 21, 2024
Agriculture Saffron adds spice to Turkey’s agriculture offering Turkey is hoping an age-old product, saffron spice, will boost the value of its agriculture sector. A new project aims to double the area of saffron under cultivation to meet domestic demand and form the basis for exports in the rare and valuable spice. Saffon-A Tarim AŞ, a private sector company, has begun harvesting 100 […] November 20, 2024
Opinion Agriculture Food is the hidden frontier in the Middle East conflict The impact of conflict on food production and trade will be felt around the world October 11, 2024
Opinion Food & Drink Our love for cheap imported food is costing us dearly The UAE is too dependent on food imports while about a third, worth $4 billion, is wasted October 4, 2024
Markets Saudi poultry producer gets nod to sell 30% stake in IPO Arabian Company for Agricultural and Industrial Investment (Entaj), a Riyadh-based poultry producer, has received the green light from the Saudi market regulator to list shares on the main market (Tasi). The company will float 9 million shares through an initial public offering (IPO), representing 30 percent of the total issued share capital. The prospectus detailing […] October 2, 2024
Opinion Agriculture The time is right for the GCC to stockpile grain The UAE holds food reserves for just three months. The Gulf should invest far more – and do it now September 30, 2024
Markets Fourth Milling to launch retail IPO next month The two-day retail tranche of the Fourth Milling Company’s (MC4) initial public offering (IPO) will begin on October 2. The company will sell 162 million shares, or 30 percent of its share capital, on the Saudi stock exchange, it said in its prospectus. The price range announcement and institutional book building will commence on September […] September 6, 2024
Industry Oman wealth fund begins merger of food units Oman has initiated a merger between two state-run entities to support its food security sector. Oman Investment Authority, the sultanate’s sovereign wealth fund, has begun the initial process of merging Oman Food Investment Holding Co (Nitaj) and Fisheries Development Oman, the state-run Oman News Agency reported. The move is intended to lead to high-quality products, […] September 2, 2024
Agriculture Tenders open for Saudi Arabia fish farm Saudi Arabia has opened a tender for a fish farm on its north-eastern coast as its government tries to encourage more healthy eating and shore up food security. The aquaponics project to cultivate fish and plants in a four-hectare area in the Jubail governorate has a bidding deadline of November 27, the ministry of environment, […] August 30, 2024
Industry Turkey gets $100m to support quake-hit agriculture sector Turkey has secured $100 million from the Jeddah-based Islamic Development Bank to support its agricultural industry, which was impacted by last year’s earthquakes. The International Islamic Trade Finance Corporation (ITFC), a member of the development bank, has provided funding to the Development and Investment Bank of Türkiye (TKYB). The funding, guaranteed by the Ministry of Treasury […] August 16, 2024
Analysis Logistics Cold storage in hot demand across the Gulf Demand for chilled and frozen foods is rising across the Gulf, driving growth in the region’s cold chain infrastructure. Maersk, the Danish logistics company, says this demand – along with food security concerns – motivated it to open its first UAE cold store at Dubai Industrial City last summer. Population growth and concerns around climate […] August 14, 2024
Opinion Agriculture Agricultural monopoly is a dangerous game in the Gulf Food prices have risen dramatically, thanks in part to agribusiness giants August 1, 2024
Economy Tunisia approves $54m loan from Italy Tunisia has officially approved a €50 million ($54 million) loan from Italy to support its state budget for the current financial year. The loan was originally signed in April. It will be repaid over 40 years with a 31-year grace period and a zero percent interest rate. Tunisia’s current account deficit narrowed to 2.3 percent […] July 24, 2024
Manufacturing Agthia enters Saudi protein market with $25m facility The UAE’s food and beverages group Agthia is expanding its presence in Saudi Arabia, the largest economy in the GCC. The Abu Dhabi-listed company, which is majority owned by the Abu Dhabi government through the state investor ADQ, has opened a new AED90 million ($24.5 million) protein manufacturing facility in Jeddah to support growing demands […] July 9, 2024
Manufacturing Fall in Almarai’s Q2 revenue hits bottom line Revenues for Saudi Arabia’s Almarai, the Middle East’s largest dairy farm, fell 6 percent year on year in the second quarter of 2024, driven by seasonal changes in consumption patterns. The top line fell to SAR5.2 billion ($1.4 billion) during the April to June period, compared to SAR5.46 billion a year earlier. The drop in […] July 8, 2024
Analysis Agriculture Weather and politics keep pressure on price of rice The status of rice as a global food staple means that it is also a political minefield for producer nations. So all eyes are on India as rice prices fluctuate at around a 15-year high. Different varietals and markets command different prices, but trading on “contracts for difference”, which track benchmark prices, saw the cost of […] June 27, 2024
Opinion Agriculture Arab states must raise intra-trade to buffer against food shocks Gulf producers are neglecting their own farming potential June 24, 2024
Agriculture Drought pushes up sheep price for Eid in Morocco The price for a sheep in Morocco for the annual sacrifice at Eid al-Adha has increased on average at 10 times the 2.2 percent rate of inflation. A medium-sized female sheep costs MAD4000 ($400) as opposed to MAD3000 last year. This puts it out of range for many families in the country where a high […] June 17, 2024
Agriculture Oman to build agricultural city to enhance food security Oman will build an agricultural city as part of its food security initiative, a news report said. Saham Agricultural City will cover an area of 65 sq km, with 70 percent dedicated to agriculture and 30 percent to urban development, Oman Daily Observer reported. The city will use advanced technologies such as hydroponics, aeroponics and […] June 17, 2024
Analysis Finance Agriculture startups failing to cultivate VC interest Agriculture technology founders in the Gulf are having to resort to alternative sources of funding, as interest from venture capital entities dries up. The region is following a global trend. Startups in so-called “agtech” cumulatively raised $1.2 billion across 161 deals in the first quarter of this year, down almost 26 percent and 20 percent […] June 10, 2024
Agriculture Tunisia’s honey production hit by global warming Almost three-quarters of beekeepers in Tunisia have seen their honey production curtailed by climate change. The North African country has 305,000 hives tended by 13,000 beekeepers, according to Hassene Ben Salem, chief engineer at the Office of Livestock and Pastures. But he said extreme weather conditions have almost halved honey production, from an average of […] May 22, 2024
