Saudi Arabia

Qatar's sovereign wealth fund will turn its focus to commodities - particularly food and energy - in the second half of 2009, a senior official said yesterday.

"Don’t tell me the Saudis grow food in Ethiopia to feed Ethiopians. Here is the conflict. Food shortage and famine is still rampant in today’s Ethiopia."

"Huge tracts of unutilised agricultural land are available" writes the Ambassador of Ethiopia to the UK

The chief of the International Finance Corporation, Lars Thunell, has been holding talks with Saudi finance minister Ibrahim Al-Assa on corporation in areas of joint 'external agricultural investments'.

Saudi Finance Minister Ibrahim Al-Assa also met the chief of the International Finance Corporation, Lars Thunell, and discussed ways to strengthen cooperation between the Kingdom and the IFC in areas of joint external agricultural investments in addition to activating the corporation’s activities in the Kingdom.

Perhaps the UN’s hand-wringing is just sentimental. Deals will be done and the rush to buy land has begun in Europe, too.

Saudi Arabia has announced the arrival of the first food crop harvested in Saudi-owned farms abroad, in a sign that the kingdom is moving faster than expected to outsource agricultural production.

The Saudi Binladin empire has frozen its plan to invest $4.3 billion in developing rice crops in Merauke in Papua Province and a separate project in Southeast Sulawesi Province.

“[Middle East investors] wanted to go on a long-term lease of huge tracts of land and they will plant various crops and then enter into a contract to buy the produce because they need food to feed their people,” Trade Secretary Peter Favila told reporters.

The investments aim to meet Saudi Arabia’s increasing demand for fruits, vegetables and livestock products

An estimated $238.6 million will be alloted by the Saudis to set up cash crop fruit plantations consisting of bananas, mangoes, and pineapples, an agriculture official said.

Saudi Arabia intends investing in farming in SA, the Saudi commerce and industry minister, Abdulla Ahmed Zeinal Ali Reza, told a joint economic commission on Monday.