Saudis Plan to Grow Crops Overseas
June 19, 2008
“Saudi Arabia has unveiled plans to develope large scale overseas agricultural projects to secure food supplies, revealing that Riyadh is in discussions with Ukraine, Pakistan, Sudan, Turkey and Egypt. . .(The Saudis are) planning to set up projects of at least 100,00 hectares in several countries to grow crops such as wheat, corn, rice, soyabeans, alfalfa, a feed for livestock. . .The move, which is also aimed at building up strategic reserves, comes as food prices have doubled over the past two years and a series of trade restrictions by exporting countries have limited the oil-rich kingdom’s ability to secure supplies. . .The massive rise in food prices, particularly wheat and rice, have caused a number of Arab countries to look to develop schemes in other nations. Food costs have also been a significant contributor to the double-digit inflation that is causing mounting concern in the Middle East.
Andrew England, “Saudis Plan to Grow Crops Overseas,” Financial Times, June 13, 2008, p 3
