Saudi Arabia Sets Record Production Indicators to Ensure Food Industry Sustainability

Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)
Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)
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Saudi Arabia Sets Record Production Indicators to Ensure Food Industry Sustainability

Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)
Participants at a panel discussion during the InFlavour exhibition currently held in Riyadh. (Asharq Al-Awsat)

Saudi Arabia achieved record indicators in food production to ensure the industry's sustainability locally, achieve self-sufficiency in some products, and move to the stage of exporting products to foreign markets.

The Saudi Ministry of Environment, Water, and Agriculture reviewed these indicators on the sidelines of the InFlavour exhibition, the largest global event for food sustainability and official trade event for the worldwide food and beverage ecosystem.

InFlavour is taking place at the Riyadh Exhibition and Convention Center from Oct. 29 to 31, with more than 40,000 visitors, 400 exhibitors, 200 speakers, and 200 local and international investors representing 143 countries.

According to indicators, wheat production witnessed a 400 percent increase between 2017 and 2022, vegetables and fruits rose by 58 percent and 205 percent, respectively, fish increased by 73 percent, and dairy grew by 44.

CEO of the National Fisheries Development Program Ali al-Shaikhi told Asharq Al-Awsat that Saudi Arabia has exceeded the rate of self-sufficiency in many products, such as eggs, dairy, and others.

Shaikhi indicated that the Kingdom has moved to the stage of exporting products to foreign markets, noting that the fish and poultry sectors also witnessed rapid growth in production volume.

The Ministry of Environment, Water and Agriculture is capable of balancing between the recent increase in population and the volume of visitors coming to Saudi Arabia by sustainably raising production.

He revealed the Ministry's strategic objectives in the next phase by launching several initiatives to provide food products at competitive prices to the consumer.

Shaikhi explained that the COVID-19 pandemic and the Russian-Ukrainian war were lessons for countries to increase their volume of food industry production and reach self-sufficiency.

Saudi Arabia worked, in integration between the public and private sectors, on a strategic plan that proved successful in the short term directly, he said, adding that the Kingdom is open to all nations to exchange information and build strategic partnerships.

The InFlavour exhibition allows industry leaders to communicate with food and beverage industry experts from around the world.

It offers unique experiences and expertise in various culinary arts and hospitality and proposes creative solutions in food production and industry.

It contributes to developing the promising sector in the Kingdom and achieving Vision 2030.



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.