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.



Türkiye Works to Halt Circulation of Fake US Dollars

FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo
FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo
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Türkiye Works to Halt Circulation of Fake US Dollars

FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo
FILE PHOTO: A money changer counts US dollar bills, with Turkish lira banknotes in the background, at an currency exchange office in central Istanbul, Türkiye, August 21, 2015. REUTERS/Murad Sezer/File Photo

Turkish authorities were checking currency exchanges and cash dispenser machines on Thursday to help avert any damage from the circulation of counterfeit US dollars, which has prompted a number of banks to stop accepting some of the bills.
The central bank said it was working with judicial authorities to address the counterfeiting issue and had shared a report and guidance with lenders after having examined the fake US banknotes, Reuters reported.
Though it was unclear how much counterfeit currency was in circulation across the country, several banking sources said that several foreign exchange offices and banks were no longer accepting some US dollars.
A source with knowledge of the matter said there were no related problems with the financial system.
Several banking sources have said some $50 bills and $100 bills are suspected of being counterfeit and are not currently detected by money-counting machines.
The Turkish Banking Association said these machines as well as cash dispenser machines, or ATMs, were being checked and updated to halt any further circulation of counterfeit bills.
The source said a planned rapid system-wide update to money-counting machines would make detection possible.
Separately, a prosecutor's office in Istanbul launched an investigation into the issue, broadcaster NTV reported.