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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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          Azerbaijan, Iraq discuss prospects of relations

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          Oman inks pack to bolster role of SMEs in food systems

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

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            Local, Italian companies partner up to establish food retail chain in Egypt

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            Iraq set to award new Faw Port deals

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            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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            Miral’s premier Abu Dhabi waterfront project work on track

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            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

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              France to help Iraq generate electricity, will invest in education, science: Macron

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              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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                UAE launches phase III trial of inactivated Covid vaccine

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                COVID-19 vaccine could be available by autumn: Oxford University

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                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

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

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                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              GCC food imports to double to $53.1 billion by 2020

              Zawya

              April 19, 2017
              in Agriculture, Food
              0

              The GCC’s food import bill will double over the next few years to a value of $53.1 billion, says a MEED Insight Thought Leadership Report. The report says prevailing climatic conditions in the GCC, which currently produces only 30 per cent of its food requirements and imports the remaining 70 per cent worth over $150 billion annually, will keep it dependent on food imports for the foreseeable future. The food sector is also core to diversification efforts as regional governments recognize its employment generation capabilities, import cost reduction, and re-export potential.

              The report identifies food as the GCC’s highest consumer spend segment and predicts it will rise a further five per cent to reach $106 billion by next year. However, it also says high urbanization rates will affect spending patterns – identifying growing demand for convenience, frozen and packaged food. It says the Middle East will play a role in developing a global frozen food market forecast to reach $293.7 million by 2019.
               
              The report says that by 2018, the GCC will see significant growth in organic farming, food retailing and its f&b service segment predicting that within two years the region’s organic farming market is expected to be worth $1.5 billion; its food retail market will grow to $155 billion and its overall f&b segment to $13.2 billion. Food consumption in the GCC stood at 39 million metric tons (MT) in 2014 and is expected to rise at a CAGR of 4.5 per cent until 2019, according to the report: “An expanding population base is a key driver of the rise in food consumption.

              The population of the GCC region is expected to reach about 57 million in 2020, registering an annual CAGR or 1.8 per cent over 2014-2020. Increasing tourist inflow into the region could also stimulate food consumption, particularly of packaged foods and restaurant meals.” The report also identifies cereals, such as rice, wheat, barley and maize as the region’s most in-demand food products, accounting for 55 per cent of total food demand. It does, however, also pinpoint increasing demand for meat, particularly halal beef. “The rise in per capital consumption of meat indicates a shift in dietary preference towards meat consumption. The demand for foreign halal beef has grown steadily.

              By 2019, the UAE will be among the world’s top 10 nations in per capita consumption of meat,” says the report. Changing country-by-country consumption trends are also outlined with Saudi Arabia and the UAE still being the region’s top consumers. “Home to over 75 per cent of the GCC’s population, Saudi Arabia and the UAE are the largest food consumption centers. While Saudi Arabia accounts for the highest consumption, primary owing to its large population based, the UAE’s share in overall food consumption has decreased, while consumption in Kuwait and Qatar has increased considerably.” Qatar, says the report, is proving to be fastest-growing food consumer up from 2012-2017 with an average annual growth of five per cent – almost double the GCC average. The growth is attributed to the rapidly rising population in the country owing to its mega events, such as the 2022 FIFA World Cup, which have increased the inflow of foreign workers mainly in the construction sector.

              The report also gives strong insights into the region’s logistics and distribution system for the food sector, with growth predicted in investment in warehousing to improve operational efficiency and processes and cold storage infrastructure.
              Zawya
              19 April

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