Poultry processor BRF has signed a Memorandum of Understanding with the Saudi Arabian General Investment Authority (SAGIA) to build and operate a plant in the country.
A Gulf-wide goods and services tax that will come into effect next year has been one of the main talking points among companies exhibiting at Gulfood Manufacturing this year, with its ripple effect likely to impact business in the food industry.
The Saudi Agriculture and Livestock Investment Company (Salic) has joined the UAE’s Al Dahra in a SAR5bn (US$1.3bn) joint venture to invest in the Black Sea region.
Gulf food processing is among the key sectors ripe for investment as India continues to strengthen its historic economic ties with the GCC, according to a new report by Alpen Capital.
Qatar's government has “effectively” protected the economy against sanctions imposed by neighbouring countries, according to an International Monetary Fund official.
European commissioner for agriculture and rural development Phil Hogan will front an autumnal trade mission to Saudi Arabia and Iran in what could unlock lucrative new deals for halal meat traders.
Saudia Dairy and Foodstuff Company (Sadafco) has launched a functional laban fruit drink in the Middle East after demoing the product in the manufacturer's home market.
Despite “challenging” times in its home market, Vimto manufacturer Nichols is expecting another strong performance during the Ramadan season in the Middle East.
Belgian luxury confectioner Fairy Chocolates has introduced a mini version of its éclair praline fusion Cho’clair as it concentrates on expansion in Asia.
Brazilian meatpacker BRF SA and Qatar’s sovereign wealth fund have agreed to buy outright the largest poultry producer in Turkey, Banvit, in a joint venture worth $470m.
Lower oil prices and disruption from conflicts in Syria, Iraq and Yemen have prompted the chief executive of Nestlé Middle East to brand the last year’s business as challenging for the Swiss multinational.
UAE-based investment firm Food Capital has acquired a significant stake in Ice Cream Dana Group of Saudi Arabia, the owner of 20 stores under the Yummy Yoghurt, Bun & Patty, Pimento and Maltoot brands.
One of the Gulf’s biggest food and beverage companies has completed the acquisition of 70% of Al Safi Food, effectively granting it a local platform to manufacture and distribute food and beverage products in the Kingdom.
Global online food delivery company Foodpanda has announced a deal to merge its Hellofood business with HungerStation in Saudi Arabia to create a market leader in one of the world’s biggest food delivery markets.
Kuwait’s Mezzan Holding, one of the Middle East’s biggest manufacturers and distributors of food and beverages, has reported in an increase in second-quarter revenue of 2.4% over the same period in 2015 to KWD52.8m (US$175m), and a 3.9% increase in year-to-date...
Global cooking oil major Mazola is placing its focus on expanding even further into the Middle East’s growing non-retail sector by appointing Farm Fresh as its new distributor for food-service business in the UAE.
Kuwaiti food conglomerate Mezzan Holding will buy into Saudi Arabia’s Al Safi Food for up to US$25m, while EIP, one of the buyers of Diamond Meat Processing, eyes further purchases.
Australian produce distributor Valleyfresh has announced it will open an office in Saudi Arabia in a bid to expand its operations and strengthen its relationships in the Middle East.
Pakistan’s largest conglomerate, the Fauji Group, has launched the country’s biggest halal abattoir, meat processing and exporting unit near Port Qasim, Karachi.
US private equity firm TPG Capital may buy Spinneys Egypt for US$100m, as Gulf Capital announces the acquisition of GCC food distributor Multibrands to target the fast-growing Saudi F&B market.
Brazilian agribusiness exporters are expanding their markets in the Middle East, as poultry sales boom, Saudi rice imports ramp up, and live cattle exports to Egypt are set to resume.
Fajr Capital, a private equity investor in high-growth markets across the Middle East and Asia, has completed its acquisition of Cravia Group, one of the fastest-growing food and beverage platforms in the Middle East.
Saudi Arabia has announced further restrictions on energy drinks, with fines to be levied against outlets serving the beverages, but the impact will be minimal, according to Euromonitor.
Saudi consumers are starting to embrace online grocery shopping, but buying patterns show concern for food quality trumps convenience, according to research from Payfort and toDoorstep.
The European Bank for Reconstruction and Development (EBRD) will invest US$100m in Savola-owned United Sugar Company Egypt (USCE), to boost Egypt’s agribusiness sector.
Japanese wagyu beef is a hit in the Middle East, but producers are struggling to export to regional markets because of Halal issues, according to a Japanese food importer in the UAE.
British potato producer Albert Bartlett is pushing ahead with its expansion into the Middle East through its Al Dahra Bartlett JV, with more UAE marketing and plans for Saudi retail.
US beef exporters are “bitterly disappointed” at Saudi Arabia’s continued ban of their products, even as other producers have bans lifted, according to a US Meat Export official.
EGYPT ROUNDUP: There was confusion as Egypt rejected wheat from Bunge and backtracks on price reforms, but food producers announce strong profit growth and plan investments.
UAE food producer Agthia’s full-year profit for 2015 rose 20% to hit $62.9m (€56.3m) thanks to strong consumer sales, as the company aims to become a billion dollar firm by 2020.
Saudi Arabia has adopted the Best Aquaculture Practices (BAP) certification scheme for all aquaculture projects, with all existing firms required to gain BAP certification this year.
The lifting of sanctions against Iran will open up new possibilities for the food sector, but growing tensions with Saudi Arabia makes GCC trade less certain.
Almarai announced a 14.4% increase in annual profits, to US$510m, but said it expected costs to rise US$133m in 2016 due to increased costs, as it bought US land worth US$31.8m.
Next month’s Gulfood will have a distinct coffee flavour, as the booming regional coffee sector hits around US$6.5bn – or 8% of the global coffee market.
