Arab Today, arab today ksa keen on african farm investments
Last Updated : GMT 12:48:35
Arab Today, arab today
Arab Today, arab today

KSA keen on African farm investments

Arab Today, arab today

Arab Today, arab today KSA keen on African farm investments

Riyadh - Arabstoday

Saudi Arabia is encouraging companies to invest in farms in Africa as the kingdom seeks to secure supplies of food imports to replace local production, said Agriculture Minister Fahd Balghunaim. The government decided in 2008 to gradually phase out all water-intensive crops including grains by 2016 amid commodity price spikes, Balghunaim said at a World Economic Forum meeting in Addis Ababa, Ethiopia’s capital. Saudi Arabia plans to increase imports of food, including the 3 million metric tonnes of wheat consumed annually, he said. “Africa is the region that represents the biggest opportunity to increase food production with vast tracts of land and a big difference between existing potential and current productivity,” he said. “Saudi companies are bringing the technology and equipment to help increase production.” In Ethiopia, Saudi Star Agricultural Development, a food company owned by billionaire Mohammed al-Amoudi, announced last year it plans to invest $2.5bn by 2020 developing a rice-farming project on 10,000 hectares of land on lease for 60 years. It also has plans to rent an additional 290,000 hectares from the government. Critics of the project including GRAIN, the Barcelona-based advocacy group, argue that domestic farmers are being dispossessed and the country shouldn’t rent land cheaply to foreign investors to grow crops when about 13 percent of its approximately 80 million people still rely on food aid. “We want to be an assisting player in the African agriculture revolution,” said Balghunaim. “Our ethics don’t allow us to take food from the mouths of people who need it.” African nations should be able to end their dependency on food imports, become net crop exporters and cut trade deficits by adopting modern farm methods, Balghunaim said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ksa keen on african farm investments Arab Today, arab today ksa keen on african farm investments

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ksa keen on african farm investments Arab Today, arab today ksa keen on african farm investments

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday