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.



Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
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Oil Up as Israel, Hezbollah Trade Accusations of Ceasefire Violation

FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)
FILE - An aurora borealis, also known as the northern lights, makes an appearance over pumpjacks as they draw out oil and gas from well heads near Cremona, Alberta, Thursday, Oct. 10, 2024. (Jeff McIntosh/The Canadian Press via AP, File)

Oil prices ticked up on Thursday after Israel and Lebanon’s Hezbollah traded accusations that their ceasefire had been violated, and as Israeli tanks fired on south Lebanon.

OPEC+ also delayed by a few days a meeting likely to extend production cuts.

Brent crude futures edged up by 30 cents, or 0.4%, to $73.13 a barrel by 1741 GMT. US West Texas Intermediate crude futures were up 23 cents, 0.3%, at $68.93. Trading was thin because of the US Thanksgiving holiday, Reuters reported.
Israel's military said the ceasefire was violated after what it called suspects, some in vehicles, arrived at several areas in the southern zone.
The deal, which took effect on Wednesday, was intended to allow people in both countries to start returning to homes in border areas shattered by 14 months of fighting.
The Middle East is one of the world's major oil-producing regions, and while the ongoing conflict has not so far not impacted supply it has been reflected in a risk premium for traders.
Elsewhere, OPEC+, comprising the Organization of the Petroleum Exporting Countries and allies including Russia, delayed its next policy meeting to Dec. 5 from Dec. 1 to avoid a conflict with another event.
Also supporting prices, OPEC+ sources have said there will again be discussion over another delay to an oil output increase scheduled for January.
"It's highly unlikely they are going to announce an increase production at this meeting," said Rory Johnston, analyst at Commodity Context.
The group pumps about half the world's oil but has maintained production cuts to support prices. It hopes to unwind those cuts, but weak global demand has forced it to delay the start of gradual increases.
A further delay has mostly been factored in to oil prices already, said Suvro Sarkar at DBS Bank. "The only question is whether it's a one-month pushback, or three, or even longer."
Depressing prices slightly, US gasoline stocks rose 3.3 million barrels in the week ending Nov. 22, the US Energy Information Administration said on Wednesday, countering expectations of a small draw in fuel stocks ahead of holiday travel.
Slowing fuel demand growth in top consumers China and the US has weighed on oil prices this year.