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
 Oct 7 2015 - Major Omani firms set to log net earnings drop in 9MMENAFN
(MENAFN) Major Omani firms are predicted to post a drop in their net earnings, however, revenues will grow slightly for the first three quarter of this year compared to a year earlier.Net earnings of ...

 Oct 7 2015 - Four Emirati servicemen killed in suicide bombings in YemenThe Arabian Post
(MENAFN - The Arabian Post) The four Emirati soldiers killed in Yemen on Tuesday have been brought home to full ceremony.The General Command of the Armed Forces announced that the soldiers died in ...

 Oct 7 2015 - International aid to Syrians 'utterly inadequate': OxfamJordan News Agency
(MENAFN - Jordan News Agency) Global efforts to help Syrians both inside and outside their war-torn country have proved "utterly inadequate", international aid group Oxfam Wednesday said in a newly ...

 Oct 7 2015 - Israeli forces arrest 40 Palestinians in West BankJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces on Wednesday arrested 40 Palestinians from various parts of the occupied West Bank including Jerusalem, according to a statement by the ...

 Oct 7 2015 - Jeddah's hotel revenues report weak results in AugustMENAFN
(MENAFN) Four and five star hotels in Dubai reported weakening performance levels in August, with revenue per available room (RevPAR) declining 10.1 percent to USD147.45 for the month. Due to a ...

 Oct 7 2015 - Jewish settlers storm Al Aqsa MosqueJordan News Agency
(MENAFN - Jordan News Agency) Groups of Jewish settlers continued to storm Al Aqsa Mosque on Wednesday via Bab Al Magharbeh Gate under the protection of Israeli army and police.The Islamic Awqaf ...

 Oct 7 2015 - Canada rejects assaulting Muslim women wearing niqabJordan News Agency
(MENAFN - Jordan News Agency) Canada's Prime Minister Stephen Harper Wednesday stressed that his government rejected the latest attacks on Muslim women in Canada because of wearing the niqab.The ...

 Oct 7 2015 - Two Palestinians injured by Israeli forces in BethlehemJordan News Agency
(MENAFN - Jordan News Agency) A Palestinian young man on Wednesday, was injured during violent clashes with Israeli occupation forces and settlers east of the West Bank city of Bethlehem.The ...

 Oct 7 2015 - MWL Secretary General Meets Sudanese Minister of Guidance and EndowmentsQatar News Agency
(MENAFN - Qatar News Agency) Secretary General of the Muslim World League (MWL) Dr. Abdullah bin Abdulmohsen Al-Turki met here today with Sudan's Minister of Guidance and Endowments, Al-Fatih Taj ...

 Oct 7 2015 - Tunisian President Meets Members of Arab Parliament BureauQatar News Agency
(MENAFN - Qatar News Agency) Tunisian president Beji Caid Essebsi met here today with members of Arab Parliament Bureau, who are visiting Tunisia to take part in the fourth session of the Arab ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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