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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

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

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

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        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

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          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

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

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

          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

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        • Agrofood
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          • Agriculture
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          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

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

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

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              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

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                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

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

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

                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

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              Jordan taps into global fertilizer demand

              Oxford Business Group

              April 26, 2017
              in Business
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              Deals signed in recent months that have the potential to reinvigorate Jordan’s phosphate exports could bring a new source of growth to its manufacturing sector, following a year of mixed results.

              Exporting to eastern markets
              In mid-March the country’s sole phosphate producer, state-owned Jordan Phosphate Mines Company (JPMC), announced a sales contract with a group of Indian firms to provide 5.2m tons of phosphate ore – a raw material used in the production of fertilizer – in 2017.

              Though its value has yet to be made public, the deal stipulates that sales prices will be set in line with prevailing global market conditions.

              The agreement builds on existing trade relations between the two countries. In 2015 Jordan inaugurated an $860m sulphuric acid plant at Eshidiya, 325 km outside of Amman, through a joint venture between JPMC and the Indian Farmers Fertilizer Cooperative partly aimed at helping meet India’s growing demand for phosphate.

              Further good news for the industry came in February, when JPMC signed a memorandum of understanding with the government of Bangladesh to export 270,000 tons of phosphate and phosphoric acid over three years – a deal valued at $280m. The agreement revives a partnership between the two nations, with JPMC having been the chief supplier of fertilizer to Bangladesh in the past.

              Under the terms of the agreement, JPMC will supply the country with 150,000 tons of rock phosphate and 120,000 tons of phosphoric acid. According to government figures, Bangladesh already imports 150,000 tons of rock phosphate from Jordan.

              Jordan is also exploring the possibility of exporting diammonium phosphate, the most widely used phosphate fertilizer, to the country.

              Drops in production and export
              Efforts to maintain supply agreements with foreign buyers and strike new deals come on the back of a downturn last year in production and export volumes for fertilizer and the raw materials involved in its manufacture: potash and phosphate.

              While phosphate production rose by 34% to 7.1m tons in 2014 and to 8.26m tons in 2015, last year saw Jordan’s output of the compound decline by 3.4% to 7.99m tons. Figures from January, however, show a strong start to 2017, with yield up 15.8% year-on-year (y-o-y) to 565,200 tons, according to the Central Bank of Jordan (CBJ).

              In terms of potash, production reached a four-year high of 2.35m tons in 2015, an increase of 12.9% over the previous year. As with phosphate, however, 2016 saw output fall close to 2014 levels at 2m tons.

              Fertilizer production, meanwhile, rose by 30.6% to 886,000 tons in 2014, before declining gradually to 619,400 tons in 2015 and to 547,400 tons last year, as per CBJ figures. Nonetheless, the segment also showed signs of a rebound in January, registering an 18.1% y-o-y upswing in output to 56,600 tons.

              The drops in production volumes were mirrored by last year’s export data, with phosphate shipments down 17% to 308,420 tons and potash down 30.5% to 301,694 tons. Fertilizer sales volumes decreased by 12.5% to 132,523 tons.

              Again, the first month of this year brought more positive results, with phosphate exports increasing by 7.3% y-o-y to 21,702 tons and potash up by 65.2% to 31,580 tons. Meanwhile, fertilizer shipments in the same month more than doubled y-o-y to 26,288 tons.

              Global markets, local context
              Much of the downturn in production and export numbers in 2016 could have been the result of the low-price environment seen throughout much of the year.

              According to Amer Al Majali, chairman of JMPC’s board of directors, the regional price of crude phosphate fell by 16% between the start of 2016 and early November, with those of phosphoric acid and phosphate fertilizers down by 29% and 27%, respectively.

              However, many analysts expect global phosphate prices to rebound throughout 2017, buoyed by rising demand. A report released in February by research firm MarketsandMarkets forecast global phosphate demand would increase by 9.6% over 2016-21, reaching a value of $75.1bn.

              Rising demand and prices, coupled with the new partnerships recently cemented with some of Jordan’s South Asian partners, could bring new opportunities for growth in both the downstream and upstream segments of the fertilizer supply chain.
              Oxford Business Group
              26 April
               

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