UAE-based food company IFFCO Group will be investing in palm oil plantations and cattle processing facility in Ethiopia — a country that could be one answer to UAE's food security issues, said a senior company official.
Iowa agribusiness investor Bruce Rastetter is leading a project to turn as much as 800,000 acres [324,000 hectares] of land in the east African country of Tanzania into a massive grain-and-livestock operation.
The focus of Aabar on farming investments comes as Gulf nations, including Abu Dhabi, plan billions of dollars of investments in global food supply and infrastructure as they guard against price shocks and supply shortages in core resources.
Governor of Northern State says an Emirates investor, to whom 95,000 acres have been allocated in Um-Jawaseer, will invest USD 15 million.
UAE investments in Vietnam have reached $3 billion and are set to surge with local companies considering opportunities in agricultural lands, real estate and energy.
The world's largest commodities trader and major farmland owner is issuing a stock sale, and critics say the firm causes spikes in food prices.
Glencore has an 8.7% share of the "addressable" global grain trade and farming operations covering 270,000ha in Argentina, Australia, Kazakhstan, Russia and the Ukraine.
Company's chief operating officer expected to return next month to look at agriculture investments.
"It's criminal that available land that can be properly irrigated and cultivated in a modern sense, where new techniques are tried and taught to local farmers, is not yet put into production," says Bob Geldof.
Richer countries that are investing in land abroad for food cultivation should also educate the poor about agricultural methods, so that food production can be increased to a level at which poor people can produce enough for investing countries as well as themselves, says Bob Geldof.
The UAE plans to hold further talks with officials from Australia with a view to invest in farmland as part of its plan to tackle food security.
UAE is ready to build small dams for cultivation on lands they would acquire in Pakistan, provided the government ensures that there is no ban on exports.
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Paraguay: Huge beef farm hits market
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Obsolètes, les réformes agraires ?
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