Sudan’s Wheat Import Requirements to Rise to 3.5 Mln Tons in 2023

A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
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Sudan’s Wheat Import Requirements to Rise to 3.5 Mln Tons in 2023

A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)
A container with wheat is seen aboard Marshall Islands flagged general cargo ship Negmar Cicek loaded with wheat for Yemen, amid Russia's attack on Ukraine, in a sea port of the Chornomorsk town, Odesa region, Ukraine March 24, 2023. (Reuters)

Sudan will need to import 3.5 million tons of wheat this year because of a 30% drop in the projected local harvest after farmers switched to planting different crops, the UN Food and Agriculture Organization (FAO) said on Wednesday.

Some farmers told Reuters the government had failed to buy their wheat on promised terms last year, leaving them reluctant or without the money to plant a new crop.

This year production of sorghum, a staple in Sudan, and of millet, is expected to recover, helped by favorable rains, the FAO said. Projected wheat imports will therefore account for nearly all Sudan's expected cereal import requirements of 3.6 million tons, it added.

"This will have a major impact on the food security of millions of Sudanese people, as international prices of wheat continue to increase and the country's national currency weakens," the agency said in a statement.

In 2022, Sudan imported 2.7 million tons of wheat and flour at a cost of $1.06 billion, with Russia, Australia, and Romania being the top import origins, according to central bank data.

Humanitarian agencies have warned of rising levels of hunger in Sudan, where more than one third of the population faced acute food insecurity last year.

"Communities are facing differing scales of vulnerabilities driven by soaring prices of staple crops, and the combined effects of economic downturn, high inflation, climate-induced hazards and conflict," the FAO statement quoted its Sudan representative Adam Yao as saying.



Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
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Oman's Asyad Group Plans to Sell at Least 20% of Shipping Unit Via IPO

Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency
Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering. Photo: Oman News Agency

Oman's state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the country's privatization drive.

The group, owned by Oman's sovereign wealth fund, plans to sell a stake of at least 20% in Asyad Shipping Co and float it on the Muscat stock exchange, it said in document detailing its intention to float.

"The intended listing would provide investors with the opportunity to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy," the company said.

Asyad Shipping focuses on transporting liquefied natural gas (LNG), crude oil and other products. It lists energy firms BP and Shell as well as trading firm Trafigura among its customers and partners.

The offering will be made in two tranches, with 75% made to eligible investors in Oman and qualified institutional and other foreign investors. Of the 75% tranche, 30% of shares have been earmarked for anchor investors, the firm said.

The remaining 25% will be sold to retail investors in Oman.

The subscription period is expected to start next month, after the company has received regulatory approval.

Asyad Shipping plans to pay dividends semi-annually, beginning in September 2025 for the first six months of this year.

Oman Investment Bank, EFG Hermes, JP Morgan and Jefferies are acting as joint global coordinators. Sohar International is acting as joint global coordinator and as issue manager.
Credit Agricole and Societe Generale are joint bookrunners.