Syria Expects to Halve Wheat Imports after ‘Very Good' Harvest

A Syrian farmer in a wheat field in Afrin on Wednesday. (Getty Images)
A Syrian farmer in a wheat field in Afrin on Wednesday. (Getty Images)
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Syria Expects to Halve Wheat Imports after ‘Very Good' Harvest

A Syrian farmer in a wheat field in Afrin on Wednesday. (Getty Images)
A Syrian farmer in a wheat field in Afrin on Wednesday. (Getty Images)

Syria will import half as much wheat in 2023 as the previous year due to an expected boost in the domestic harvest, Minister of Agriculture Mohammad Hassaan Qatna said on Monday.

Before war erupted in 2011, Syria produced around 4 million tons of wheat yearly, enough to feed itself and export to neighboring countries. But with erratic rainfall patterns and the country's traditional breadbasket in the northeast outside government control, production has been paltry in recent years, said Reuters.

Russia's invasion of Ukraine last year prompted a spike in worldwide grain prices, making Syrian imports more expensive even as Damascus relied more on external sources.

"This year, the rainfall at the beginning of the season was a bit delayed, but all the planned areas were cultivated and the rainfall distribution was good," Qatna told Reuters in an interview in Beirut.

As a result, Qatna said, winter wheat production was "very good" and anticipated imports will be about "50% of what Syria used to import in past years", describing it as "a good achievement".

Last year, Syria imported around 1.5 million tons of wheat, with Russia providing all but a fraction of them, according to Refinitiv data.

Qatna said areas in the north - where Türkiye-backed rebels as well as US-backed Kurdish fighters each control swathes of separate territory – had not been cultivated by the central Syrian authorities.

He declined to provide Reuters with specific figures on production and import.

Qatna said Syria mainly imports wheat from Russia, which has backed the Syrian government militarily and financially.

Russian authorities have not disclosed grain supplies to Syria for a number of years. Last year, Reuters reported that wheat sent to Syria from the Black Sea port of Sevastopol in Crimea increased 17-fold to just over 500,000 tons.



Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month
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Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi's MAIR Group to List in Abu Dhabi Next Month

Abu Dhabi-based MAIR Group, an investment firm active in sectors including food retail and commercial real estate, said on Thursday it would list on the local bourse next month.

The company, which operates over 100 stores in the United Arab Emirates (UAE) under the ADCOOP and SPAR brands, said in a statement the listing on the Abu Dhabi securities exchange (ADX) would take place on Dec. 9.

It did not disclose the amount of stock shareholders and employees plan to sell through the so-called direct listing, which takes place when a company offers shares to the public without going through a bank-backed initial public offering, Reuters reported.

As MAIR prepares to list "we are ready to amplify our impact, strengthen our foundations, and invite stakeholders to join our journey," Managing Director and CEO Nehayan Al Ameri said.

MAIR, which also manages more than 12 shopping centers through its commercial real estate division, booked revenues of 1.2 billion dirhams ($326.7 million) in the first half of 2024.

Last year, it distributed 135 million dirhams in dividends, equal to 12.11% of the share capital, to its over 12,000 shareholders.