Saudi investors have asked Tanzania if they can lease 500,000 hectares of farmland mainly for rice and wheat farming as part of a plan to secure food supplies for the desert kingdom, officials said.
Jarch Management Group, Ltd., a US investment firm, disclosed that it is considering additional opportunities to lease large tracts of farmland in Southern Sudan.
The region continues to have great market potential as a number of Thai rice companies have offices there and some have been approached by local governments to invest there in milling, processing and even growing rice.
Vision3, the promoter of AgriCap, the investment vehicle conceived to invest in visionary initiatives across the agriculture sector in the greater MENA region announced today that it signed a Memorandum of Understanding with the General Directorate of Agricultural Enterprises (TIGEM), a Turkish governmental agency falling under the authority of the Ministry of Agriculture and Rural Affairs.
Bahrain and Turkish trade links took a step closer yesterday with the signing of an agreement for an agricultural project initially worth $0.5bn (BD189 million), rising to $3bn (BD1.13bn) and eventually $6bn (BD2.26bn), said Industry and Commerce Minister Dr Hassan Fakhro at the signing ceremony.
Essentially, the Middle East is left with two choices. “The region has to import. The question is, invest abroad or rely on the free market?” said Dr Eckart Woertz, program manager in economics at the Gulf Research Center in Dubai.
Abu Dhabi's food imports increased considerably during the past two years as the cultivated area contracted and the level of self-sufficiency in several commodities and livestock went down, the emirate's Department of Planning and Economy has revealed. The department yesterday called for a strategic plan to achieve food security through an increase in agricultural investment outside the UAE, especially in Sudan.
South African farmers have been offered 10 million hectares of farm land on which to grow maize and soya beans and on which to set up poultry and dairy farms in the Republic of Congo, South Africa’s main farmers union said yesterday.
Al Rajhi for International Investment will spend an estimated $400 million by 2011 to produce wheat and maize in Egypt and Sudan. The Saudi private firm is already farming 42,000 hectares of farmland in Egypt this year.
Hyundai Heavy Industries Co., the world’s largest shipbuilder, bought 67.6 percent of a Russian farm to grow corn and soybeans, heeding a call by the Korean government to help ensure food security. The shipbuilder purchased the stake from a group of New Zealand investors for $6.5 million and plans to produce 60,000 metric tons of corn and soybeans in 2014.
South Korea's Hyundai Heavy Industries yesterday announced it planned to lease 50,000 hectares of farmland in Russia's far east, in the latest sign of Seoul's push to increase its food security by outsourcing agricultural production overseas, writes Javier Blas
Saudi Arabia is putting $800m into a new public company that will invest in overseas agricultural projects. The move signals a large step-up in Riyadh’s efforts to outsource supply for the kingdom’s food needs.
