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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Food consumption in GCC to reach 49 million tons by 2017

              Oman Daily Observer

              May 3, 2013
              in Agriculture, Food
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              Food consumption in the Gulf Cooperation Council (GCC) region will expand at a CAGR of 3.1 per cent over 2012-17, reaching 49.1 million metric tons by the end of 2017, Alpen Capital has announced in its latest report on the GCC Food Industry. The increase is attributed to the rapidly growing population in the GCC, increase in foreign tourists as well as the rising income levels of the region. Per capita food consumption for the GCC region is forecasted to reach 971.2 kg by 2015 and 983.0 kg 2017, the report said.

              From the consumption standpoint, Saudi Arabia would continue to lead the region's food sector accounting for close to 60 per cent of the total consumption. However, owing to rising population, and increase in tourist arrivals, food consumption growth in Qatar is expected to outpace that of other GCC countries. Qatar will be followed by UAE and Oman in food consumption growth.

              "The GCC food sector is likely to experience healthy growth in the medium to long term. Various factors such as rising affluence levels, growing population, urbanization and proliferation of organized retail have fuelled demand for food products in the region. The industry also continues to benefit from increasing government support, foreign investments and private sector participation.

              Although high dependence on imports poses a challenge for the economy, it creates several opportunities for private sector companies to position themselves and take advantage of the growing demand", says Sameena Ahmad, Managing Director, Alpen Capital. "From an investor perspective, the outlook for the food sector continues to be positive. With favorable demographic factors and stronger balance sheet positions, GCC food companies potentially offer attractive investment propositions for long-term investors. We also see significant M & A activities taking place to satisfy investor appetite which are not just restricted to GCC businesses. There are a considerable number of companies and financial investors beyond the region who are also seizing the opportunities available", adds Mahboob Murshed, Managing Director, Alpen Capital.

              During 2012-2017, even though cereals are expected to maintain their dominant position among food categories, due to rising affluence consumption of protein rich and high value products such as meat and fruits are expected to increase. "During 2012-2017, we expect meat consumption to increase at the fastest pace at a CAGR of 3.9 per cent, followed by fruits, vegetables, milk, and cereals at a CAGR of 3.7 per cent, 3.4 per cent, 3.1 per cent and 2.5 per cent, respectively. Others include pulses, sugar, oil, fish, eggs and potatoes, is expected to grow at a CAGR of 4.0 per cent during the period," the report said.

              Strong GDP growth and increasing per capita income is one of the key drivers that would impact the growth of the industry. Per capita consumption in the region is low compared to that in developed economies and is expected to increase at a relatively higher rate with growing affluence. Another factor contributing to the growth in food consumption is the expected expansion of the GCC population from 41.7 million in 2010 to 49.9 million by 2017.

              Urbanization (and the resultant improvement in marketing and distribution infrastructure) has a profound effect on food consumption. It helps attract large supermarkets (retail formats) and improve access to foreign supplies (imports), thus widening the available range of choices.

              Industry trends
              Shift in consumption pattern: In line with the global trend, the GCC region is still seeing a changing consumption pattern with a shift to a protein-rich diet that includes meat and dairy products from a carbohydrate-based one that consists of staple food items such as cereals. Increase in demand for processed food: Increasing urbanization, hectic lifestyles, growing popularity of large food retail formats and presence of multinational food companies in the GCC region are expected to increase the popularity of high-value processed foods among consumers, driving their consumption.

              Increasing number of hypermarkets, supermarkets, discount stores, and various other forms of organized retail have also contributed significantly to the growing demand for food (particularly processed food) in the GCC region. Food Processing and re-exports: There is a substantial opportunity for local and international brands with GCC governments supporting the growth of food processing segment especially bakery and dairy products. The GCC especially the UAE with its locational advantage is also emerging as a major food re-exporting hub. Although UAE's food production capability is limited, its strategic location has helped it to be a significant link in the region's food chain.

              Demand for health food: While there is a growing awareness and drive about healthy living, obesity rates are high and diabetes is a concern for the region. As a consequence, demand for health food which is high on energy and nutrition is expected to grow. Demand for healthy alternatives such as meal replacement products and low-fat dairy is expected to increase. There is also a rise in demand for organic foods which has been driven largely through the increasing use of agrochemicals and other harmful pesticides, together with growing consumer awareness.
               
              Implementation of hydroponic techniques: Given the benefits of Hydroponics in mitigating hostile agricultural conditions, the GCC governments are working towards implementing this technique for improving agriculture. The Oman government in specific has carried out several successful measures in implementing the technique. Unfavorable climatic conditions and limited agricultural resources make the Food industry highly dependent on imports. This issue of food security critical for the region and necessary initiatives to secure food imports for the growing population continues to be a priority for GCC governments.

              The high dependence on imports also makes the region susceptible to external food price shocks. The increase in food prices in the past few years has put significant inflationary pressure on the GCC economies with consumer price increase reaching double digits during 2008-09. During periods of high inflation, initiatives by the governments to regulate the prices of end products create challenges and reduce margins for local manufacturers as their raw material cost increases. To meet this increasing demand for food arising out of the growing consumption is both a challenge for the GCC governments and an opportunity for private sector players to expand within the GCC markets.
              Oman Daily Observer
              3 May

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