SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity
TT
20

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

SABIC Introduces ‘Smart’ Techniques to Increase Farmer Productivity

Saudi Basic Industries Corporation (SABIC) has introduced a series of smart techniques and practices that help farmers enhance efficiency, production and profits.

This presentation was made during the company's participation in the 25th Arab Fertilizer Forum and Exhibition that concluded in Cairo on Thursday.

SABIC showcased the pioneering researches at its subsidy Estidamah Agricultural Research Center in Riyadh, established in 2008. Raddy Alfaridi, Director of Communications, Marketing and Public Affairs at the center, presented a lecture on Estidamah researches regarding the efficiency of water usage in modern agricultural greenhouses.

This falls in line with the center’s efforts in increasing production to promote food security in the Kingdom through its research on conditions most suitable for crops.

The company also shed light on its guiding agricultural convoy in which more than 7,000 farmers from around 120 sites in the MENA region took part last year.

This event was launched end of 2018 in cooperation with the Arab Fertilizer Association, the Saudi Ministry of Environment, Water and Agriculture, and relevant departments to enrich the technical knowledge of farmers.

Engineer Samir Al-Abdrabbuh, Agri-Nutrients Executive Vice President, affirmed that SABIC has been working for the past 25 years with the Arab Fertilizer Association and its farmer members to face modern agricultural challenges and to enhance the food supplies in MENA and the world.

Abdrabbuh noted that the company’s scientists continue to develop innovative solutions to increase crops.

He added that SABIC’s contributions are not restricted to lab experiments but extend to the exchange of expertise.

SABIC dedicates time and efforts for visiting fields, communicating with farmers and helping them acquire the required skills and benefit from the company’s solutions, said Abdrabbuh.

The 25th Arab Fertilizer Forum and Exhibition saw the attendance of more than 500 officials from 130 organizations from 30 states.



WGC: Gold Investment Hits 3-year High in 1st Quarter on Trade Turmoil

FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo
FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo
TT
20

WGC: Gold Investment Hits 3-year High in 1st Quarter on Trade Turmoil

FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo
FILE PHOTO: Gold bangles are displayed at a jewellery store in Mumbai, India, March 20, 2025. REUTERS/Francis Mascarenhas/File Photo

Global gold demand including over-the-counter (OTC) trading rose by 1% year-on-year to 1,206 metric tons in the first quarter of 2025 as investment jumped 170%, the World Gold Council said on Wednesday.

Spot gold prices are up 26% so far this year and have hit multiple record highs as first-quarter investment demand hit the highest since the first quarter of 2022, when global markets were grappling with the immediate consequences of Russia's invasion of Ukraine.

"It's been a bumpy start to the year for global markets as trade turmoil, unpredictable US policy announcements, sustained geopolitical tensions and a return of recessionary fears have created a highly uncertain environment for investors," the WGC's senior markets analyst Louise Street said.

Driving up investment demand were massive inflows into physically backed gold exchange-traded funds and 14% growth in demand for gold bars in the first quarter, Reuters reported. That offset a 32% slump in demand for coins.

However, bar and coin investment in China rose 12% to 124.2 tons, the highest level since the second quarter of 2013's record high, said the WGC, an industry body whose members are global gold miners.

Amid high prices, global gold jewelry consumption, the key category of physical demand, fell 21% to 380.3 tons, the lowest level since the 2020 pandemic.

Central banks, another major source of gold demand, cut purchases by 21% to 243.7 tons in the first quarter, the WGC calculated, based on reported purchases and an estimate of unreported buying.

"While this level of demand was 21% lower year-on-year, it remains robust and in line with the quarterly average for the last three years of sustained, strong buying," it added.

For the full year, the WGC expects gold investment to continue gathering pace and central banks to repeat buying close to the range seen over the past three years due to elevated trade-related risks.