Gulf | Saudi Arabia
Saudi to start growing grains abroad amid food crisis
Saudi Arabia intends to grow strategic grains abroad to protect the country from crises in world food supply, a government official said on Saturday.
- Agencies
- Published: 15:26 June 14, 2008
Riyadh: Saudi Arabia intends to grow strategic grains abroad to protect the country from crises in world food supply, a government official said on Saturday.
Abdullah Al Obaid, a deputy agriculture minister, said the government was in talks with officials in Sudan, Egypt, Ukraine, Pakistan and Turkey to allow Saudi companies to establish projects for wheat, barley, soya bean, rice and animal fodder.
He said, "The government would like to pave the way for Saudi investors to go abroad to use their experience, know-how and money to invest in such countries in order to bring produce here.
"We have negotiations with these countries and we have received some offers welcoming Saudi investors but we want to be sure such investments are secure and governments will give logistical help to them."
Traders said earlier this month that Bahrain wanted to invest in rice farmland in the Philippines in a move to boost food security.
Saudi Arabia, the world's largest oil exporter, has not had outbreaks of violence over food costs as in some poor countries. But the government has taken measures to stop price-gouging by traders and to raise subsidies, amid high inflation.
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