Gulf looks to science to turn desert to farmland
- Reuters
- 17 May 2010
Gulf nations hope science will turn desert areas into arable land to boost food security and avoid the risks inherent in buying farmland abroad.
Gulf nations hope science will turn desert areas into arable land to boost food security and avoid the risks inherent in buying farmland abroad.
The UAE will set up a strategic food stock as part of a food security strategy that includes aquiring farmland in African and Asian countries
Southern NZ farmers will want to see cash before agreeing to sell their farms to a foreign company again, having been burnt once by a deal that turned sour.
The Kuwait-based firm aims to build on its base as the leading food company in the Middle East.
A move by Madagascar's army-backed leader to nix a huge South Korean farming deal has exposed the risks of such ventures in Africa.
Saudi Arabia, along with Abu Dhabi and Kuwait, want to buy more than $1 billion worth of Aussie farmland in a 21st century land grab.
Gulf oil producers have abandoned long-standing nationalistic policies of achieving food self-sufficiency and switched to a more realistic approach of using their strong financial muscle to invest in farm projects in fertile countries.
Qatari Diar Real Estate Investment Co. plans to invest in Georgia, including the purchase of farm land, following a fact-finding trip in April.
The lack of systematic collection of data and categorising private and official investments from the Gulf has made it difficult to reach an accurate estimate of total investments, made so far.
Minerals Energy Commodities Holding (MEC) is in talks with Indonesia to lease 100,000 ha of farmland in East Kalimantan for UAE's food security.
Reports indicate that the Gulf States have acquired more than 150,000 hectares of land in Balochistan near Mirani Dam to begin mechanised farming.
The worldwide financial crisis has reportedly stalled several agricultural deals between Gulf countries and overseas partners, including two between Bahrain and Pakistan.