Foreign land acquisitions have provoked opposition from farmers in developing nations
By Reuters Tuesday, 23 November 2010 11:24 PM
FOOD PRICES: Gulf states suffered when international food prices spiked to record levels in 2008, forcing up their import bills (Getty Images)
The UAE and Saudi Arabia will continue to invest in acquiring farmland abroad as part of their strategy to secure food supplies, officials from the two Gulf states said on Tuesday.
Gulf states suffered when international food prices spiked to record levels in 2008, forcing up their import bills. They have since sought to lease and buy farmland in developing nations to improve security of food supplies.
"In Saudi we have given a priority to water security and therefore are phasing out the production of water-intensive crops and as part our security strategy we are encouraging the private sector to invest in agriculture abroad," Fahad Balghunaim, the kingdom's agriculture minister, told reporters on the sidelines of an industry event in Abu Dhabi.
He added: "We don't have one place or region we are targeting for these land leases, I can promise you that we will be everywhere in the world
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