Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kingdom imports 80% of food products  Join our daily free Newsletter

MENAFN - Arab News - 20/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi arabia is importing 80 percent of its food requirements from foreign countries while the remaining 20 percent of foods are locally produced local media said quoting a report released by the world bank.

on average the gcc (gulf cooperation council) countries are importing 90 percent of food products from other countries. qatar topped the gcc in terms of their dependence on foreign imports at 97 percent followed by bahrain at 92 percent kuwait (91 percent) and the uae and oman at 89 percent each the report said.

meanwhile experts said political developments in ukraine have a negative impact on the prices of agro commodities as it produces 16 percent and 9 percent of global maize and wheat exports respectively the report said.

accordingly prices of maize and wheat have increased by 20 percent and 13.5 percent since the beginning of the current year the report said.

on the other hand the rate of self-sufficiency in the gcc countries is expected to drop in the next few years. the cost of supporting wheat production in saudi arabia exceeded sr5 billion annually in the period 1984-2000 the report said.

poor soil condition water scarcity and bad weather conditions have raised wheat production costs to become four times higher than global levels though the kingdom remained the 6th largest wheat exporter in 1992 according to the report.

however due to depletion of ground water by farmers the saudi authorities were forced to abandon the policy of increasing domestic production and accordingly production began to decline as from 2008 and expected to cease fully by 2016 the report said.

taking into consideration the above facts development of a sustainable agro sector is highly costly and ineffective and the gcc countries have to look for other alternatives to increase food security the exports said.

among these alternatives are storing food products and acquisition of agro lands outside the region. africa notably the sudan captured the concern of investors be they individuals or corporate.

the gcc investors purchased more than 2 million hectares of lands in the sudan between 2006 and 2012 or three times of lands they bought in australia the second largest recipient of gulf investments the report said.


 


Arab News




  MENA News Headlines
 May 25 2015 - Syria: Opposition forces kill 15 Assad regime soldiersThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Syrian opposition forces have killed 15 regime troops in operations in Aleppo, in northern Syria, the opposition said.The spokesman of what is referred to as ...

 May 25 2015 - Jordan calls for 'serious' Palestinian-Israeli talksThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Jordan called on Sunday for launching "serious" and "effective" negotiations between the Palestinians and the Israelis.Foreign Minister Nasser Judeh said the ...

 May 25 2015 - Libya pro-Brotherhood figures to attend Cairo meetingThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Some pro-Muslim Brotherhood figures from Libya will attend a Libyan tribal leaders' meeting scheduled to start in Cairo on Monday, an Egyptian newspaper ...

 May 25 2015 - Kuwaiti Singer Al-Rowaished HonoredArab Times
(MENAFN - Arab Times) Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah honored Sunday singer Abdullah Al- Rowaished for acquiring an ...

 May 25 2015 - General Assembly Members Of Qadisiya Club Honors Team For Winning Amir CupArab Times
(MENAFN - Arab Times) General Assembly members of Qadisiya Club Saoud Abdul Aziz Al-Babtain and Mohammad Abdul Aziz Al-Babtain organized a ceremony in honor of the number one football team in ...

 May 25 2015 - ALARGAN Posts KD 4.7mn Net Profit In 2014Arab Times
(MENAFN - Arab Times) ALARGAN International Real Estate Company held its ordinary General Assembly meeting on May 24, 2015, with an attendance level that reached 94.51 %. During the meeting, the ...

 May 25 2015 - KSE Kicks Off Week With 21.18 Pts DropArab Times
(MENAFN - Arab Times) Kuwait stocks pulled lower on Sunday after ending the previous week on dull note. The main index dropped 21.18 pts in lackluster trade to close at 631.09 pts as sentiment ...

 May 25 2015 - Kuwait Govt Woos Investors With Lucrative Business EnvironmentArab Times
(MENAFN - Arab Times) Kuwait has a lucrative business environment for foreign investors to ultimately see economic and human development, thus honoring His Highness the Amir Sheikh Sabah Al-Ahmad ...

 May 25 2015 - Jordan- Govts Need To Invest More In Infrastructure: AlghanimArab Times
(MENAFN - Arab Times) Bring more Arab women into the workforce, invest in "bite-sized" infrastructure projects and get the private sector more involved in training young job seekers - these are the ...

 May 25 2015 - Shabaab Fighting In Somalia Kills 24 PeopleArab Times
(MENAFN - Arab Times) Fighting in south Somalia between al Shabaab militants and government forces killed at least 24 people, while a rebel attack in the capital killed three Transport Ministry ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help