Saudi Arabia privatizes barley imports and distribution business

SAUDI ARABIA – The Saudi Arabian government has complemented the full privatization of barley imports and distribution business in line with its November 2020 decree.  The decision was implemented when the Saudi Grains Organization (SAGO) sold 1.84 million metric tons (MMT) of barley through an open and competitive bidding process to local grain traders. The quantity was made up of 1.42 MMT of barley stored at 22 packing terminals (mostly contract packers) and seven vessel loads of barley sailing to Saudi seaports carrying 60,000 MT each for a total of…

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DuPont brings listeria inhibiting meat preservative to processors in the Middle East

MIDDLE EAST– DuPont Nutrition & Bioscience is bringing one of its most effective and label-friendly antimicrobial systems to processed meat manufacturers in the Middle East and Africa. Proven to inhibit the growth of Listeria monocytogenes and other gram-positive bacteria, the newly launched NovaGARD NR 100-G is part of the DuPont Danisco range of antimicrobials. Ensuring food safety in a high risk category The threat of listeriosis – a disease caused by Listeria Monocytogenes in the Middle East is ever present as almost 90 percent of meat products sold in the…

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Tanmiah Food Company launches US$1m sustainable chicken waste disposal challenge in Saudi Arabia

SAUDI ARABIA – Saudi Arabia’s leading manufacturer and distributor of food and agricultural products, Tanmiah Food Company (TFC) has launched the Omnipreneurship Awards: Sustainability Branch Grand Challenge aimed to inspire innovative ways of disposing excess chicken waste generated by their farms. TFC is looking for solutions that will create new processes for converting and using the growing amounts of chicken manure towards value-added products for TFC’s core business. “Tanmiah aims to become the leading sustainable poultry company in the region, as a net carbon-negative poultry producer and to serve as…

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Saudi Arabia embarks on privatization of its flour milling sector

SAUDI ARABIA – Saudi Arabia has started privatizing its flour milling sector, as part of a wide-reaching overhaul of its economy, with the Kingdom recently privatizing two of its four flour milling companies for US$740.5 million. Saudi Arabia has traditionally imported and milled wheat, and then sold the resulting flour at subsidized prices. But it has been moving toward privatization for a number of years. In 2018, Saudi Arabi’s Council of Economic and Development Affairs approved a privatization program for the sale of the four flour milling companies by SAGO,…

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Saudi Arabia transfers ownership of flour milling companies to privatization agency

SAUDI ARABIA – Saudi Arabia has resolved to transfer four milling companies to the National Center of Privatization and PPP (NCP), the body responsible for enabling the privatization of certain government assets and services. The resolution, which was made by the Council of Ministers, also issued the four milling companies identified and as Milling Company 1, Milling Company 2, Milling Company 3 and Milling Company 4 permits to produce flour under the ownership of NCP. The Council noted that the transfer of ownership will not have an impact on the…

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UAE and KSA food & beverage market to surpass US$80bn in 2020

UAE – The United Arab Emirates (UAE) as well as the Kingdom of Saudi Arabia (KSA) are some of the most strategic markets for food and beverage companies in the Gulf region and despite the COVID-19 crisis and the looming economic recession, the food & beverage market is projected to register steady growth throughout 2020 and reach US$80 billion. This is according to an industry analysis conducted by research firm, Frost & Sullivan titled the ‘2020 Outlook of the KSA and UAE F&B Market’, which attributes the growth to increased…

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Saudi food group Almarai appoints new chief executive officer

SAUDI ARABIA – Almaria Company, the Gulf’s leading dairy company based in Saudi Arabia has appointed Mr. Majed Mazen Nofal as its Chief Executive Officer, effective 1st January 2020. As part of the company’s succession plans, the current acting CEO Mr. Georges P. Schorderet will handover to Majed Nofal on 31st December 2019 and continue to serve as an Advisor to the Board of Directors. Schorderet took over the position on July this year following the resignation of former CEO Mr. Alois Hofbauer, who according to the company stepped down…

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Brazil’s BRF to invest US$120m in Saudi poultry processing plant

SAUDI ARABIA – Brazilian food processor, BRF has entered into an agreement with the Saudi Arabian General Investment Authority to invest approximately US$120 million in setting up its first chicken processing plant in the country. The investment will enable the company to strengthen its position in Middle East. BRF already has four meat processing facilities in the region and ranks as the largest meat exporter in the Gulf region. The facility will have a capacity to produce around 50,000 tonnes per year, serving the Saudi market as well as neighbouring…

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Saudi food company Almarai secures US$100m funding to expand subsidiaries

SAUDI ARABIA – Almaria, the Gulf’s leading dairy company based in Saudi Arabia, has secured US$100 million funding from the European Bank for Reconstruction and Development (EBRD) to boost operations of its subsidiaries. Almaria intends to use up to US$90 million of the proceeds from the loan to fund its dairy and juice production capacity expansion for its subsidiary in Egypt, Beyti. The dairy and juice company has also earmarked US$10 million for Teeba in Jordan to strengthen its capital base and fund its permanent working capital needs. EBRD said…

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Saudi Arabia outlines next phase of flour mills privatization

SAUDI ARABIA – Saudi Grains Organization (SAGO), the state grain buyer has stated that it will begin the next phase of the sale of its flour mills within days in a privatization move. According to Reuters, privatization of the flour mills is part of Saudi Arabia’s government plans to overhaul its economy through diversification. Pre-qualified bidders are expected to begin the process of performing due diligence and present financial offers. Some of suitors for the deal include some of the world’s largest agribusiness firms, including Archer Daniels Midland Co and…

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