Both public and private sector investors in the Gulf are also looking at ways to improve local food supplies, by investing in a range of outlets from arable farm land in the Sudan, Algeria and Pakistan to introduce new technology to enhance the local production of foodstuffs and grains, livestock, poultry and fish.
Beijing is adding agricultural investments to its “go outward” strategy, under which domestic businesses are encouraged to venture into foreign markets.
China has taken a lead in efforts to boost Africa’s farm production, putting pressure on GCC states to also find long-term solutions for food supply in Africa
Bangladesh urged Myanmar on Thursday to lease it farm land near the border for rice cultivation to meet its growing food demand, an official said.
An agreement for the allocation of 5,000 hectares of land in the Beira region was signed by Mauritius and Mozambique early this year.
Globalisation has taken yet another twist with some Middle Eastern countries deciding to grow their crops in other countries.
The Dubai-based think-tank Gulf Research Centre, in its food inflation report released last month, noted that agriculture production in the six-member Gulf Cooperation Council’s (GCC) countries is on the decline, and its exposure to unstable global food supplies would increase in the future. It called on the GCC to develop links with countries rich in arable land.
Leasing farms on contract in Arab countries such as Iraq, Egypt and Sudan might be an option to deal with severe shortage of agriculture lands and water in Bahrain.
The high-profile economist Prof Jeffrey Sachs says plans by Gulf countries to invest in developing world farms could be “win-win” for both sides, but cautions that the schemes could end in “disaster” if the focus is solely on profits.
The UAE and its food-importing neighbours are “particularly vulnerable” to spiralling costs and should make significant investments in “contract farming” in Africa and Asia, says the UN’s Gulf food chief, Dr Kayan Jaff.
Recent attempts by Persian Gulf countries to invest in farmlands abroad to counter soaring inflation and guarantee long-term food security could prove to be a win-win situation in the short term for both the oil-rich region and its investment-hungry neighbors, but continued high oil prices may neutralize the gains in the long-run, say experts.
The Rivers State Government has reiterated its resolve to create an enabling environment to enhance rice production and processing, as well as promote and protect other agricultural business interests in the state.
