First Int’l Forum and Exhibition for Sustainable Agriculture Kicks off in Riyadh

Officials are seen at the International Forum and Exhibition for Sustainable Agriculture (IFESA) in Riyadh. (SPA)
Officials are seen at the International Forum and Exhibition for Sustainable Agriculture (IFESA) in Riyadh. (SPA)
TT

First Int’l Forum and Exhibition for Sustainable Agriculture Kicks off in Riyadh

Officials are seen at the International Forum and Exhibition for Sustainable Agriculture (IFESA) in Riyadh. (SPA)
Officials are seen at the International Forum and Exhibition for Sustainable Agriculture (IFESA) in Riyadh. (SPA)

Saudi Minister of Agriculture, Environment and Water, Eng. Abdulrahman Al-Fadhly inaugurated on Monday the inaugural International Forum and Exhibition for Sustainable Agriculture (IFESA) in Riyadh.

Held under the slogan "Agricultural Development with Optimal Use of Natural Resources", the event is organized by the National Research and Development Center for Sustainable Agriculture (Estidamah) in cooperation with the Ministry of Environment, Water and Agriculture.

Several international, regional and local experts and specialists in the agricultural sector are attending the event.

Al-Fadhly also inaugurated the forum's accompanying exhibition, featuring both local and international exhibitors. He toured various pavilions showcasing their offerings.

Several agreements were signed between the Estidamah Center, the Agricultural Development Fund, the Saudi Coffee Company, solutions by stc, the Food Development Company, and the Saudi Agricultural Development Company.

The international event serves as a platform to showcase cutting-edge research, studies, and practices in agricultural sustainability. It highlights the latest technologies and innovations contributing to sustainable agriculture.

The forum will host lectures, seminars, discussions, presentations, and workshops led by global experts, presenting the newest practices, research, and studies in sustainable agriculture.

It offers a platform for national and international companies to exhibit and share their latest innovations and experiences in the field of sustainable agriculture.



Oil Trims Gains on Dollar Strength, Tight Supplies Provide Support

FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
TT

Oil Trims Gains on Dollar Strength, Tight Supplies Provide Support

FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo
FILE PHOTO: An oil pump jack is seen at sunset near Midland, Texas, US, May 3, 2017. REUTERS/Ernest Scheyder/File Photo

Oil prices trimmed earlier gains on Wednesday as the dollar strengthened but continued to find support from a tightening of supplies from Russia and other OPEC members and a drop in US crude stocks.

Brent crude was up 21 cents, or 0.27%, at $77.26 a barrel at 1424 GMT. US West Texas Intermediate crude climbed 27 cents, or 0.36%, to $74.52.

Both benchmarks had risen more than 1% earlier in the session, but pared gains on a strengthening US dollar.

"Crude oil took a minor tumble in response to a strengthening dollar following news reports that Trump is considering declaring a national economic emergency to provide legal ground for universal tariffs," added Ole Hansen, analyst at Saxo Bank.

A stronger dollar makes oil more expensive for holders of other currencies.

"The drop (in oil prices) seems to be driven by a general shift in risk sentiment with European equity markets falling and the USD getting stronger," said UBS analyst Giovanni Staunovo.

Oil output from the Organization of the Petroleum Exporting Countries fell in December after two months of increases, a Reuters survey showed.

In Russia, oil output averaged 8.971 million barrels a day in December, below the country's target, Bloomberg reported citing the energy ministry.

US crude oil stocks fell last week while fuel inventories rose, market sources said, citing American Petroleum Institute figures on Tuesday.

Despite the unexpected draw in crude stocks, the significant rise in product inventories was putting those prices under pressure, PVM analyst Tamas Varga said.

Analysts expect oil prices to be on average down this year from 2024 due in part to production increases from non-OPEC countries.

"We are holding to our forecast for Brent crude to average $76/bbl in 2025, down from an average of $80/bbl in 2024," BMI, a division of Fitch Group, said in a client note.