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Saudi Arabia, Oman Ride New Wave of Investment in Gulf Region's Aquaculture Industry

Investor appetites turn toward oil-rich states as aquaculture-related exhibition space more than doubles at AGRA Middle East

Dubai, UAE, 9 February 2014: Saudi Arabia and Oman are leading a fresh wave of investment in the Gulf’s aquaculture industry, as increasing regional fish consumption gives investors a big opportunity to capitalise on the fastest growing food processing sector in the Middle East.

In December 2013, the Saudi Arabian Ministry of Agriculture said it would inject an additional US$10.6 billion into aquaculture projects to produce one million tons of fish in the next 16 years, while Oman, which has long been at the forefront of aquaculture in the Gulf region, announced that it plans to invest US$1.3 billion in fisheries development up to 2020.

The UAE, which has the world’s largest sturgeon fish farm in Abu Dhabi, also has big plans, with the country’s Ministry of Environment and Water expected to announce several multi-billion dollar aquaculture projects in the coming months.

It all points to what is now a booming sector across the Middle East, and one which is becoming increasingly popular at AGRA Middle East, the region’s only exhibition covering agribusiness, poultry & livestock, fishing & aquaculture,  floriculture & horticulture and agricultural machinery & supplies.

Taking place from 25-27 March at the Dubai International Exhibition Centre, AGRA Middle East provides a comprehensive all-in-one platform for exhibitors to showcase their latest innovations to thousands of key regional decision makers.

Though traditionally dominated by suppliers of agriculture, horticulture, and poultry products and services, the three-day event has seen aquaculture related exhibition space more than double in the last year, and its organisers, Informa Exhibitions, expects this trend to keep growing.

Richard Pavitt, Exhibition Director of AGRA Middle East, said: “Aquaculture is the fastest growing food processing industry in the Middle East, with the most recent fisheries’ data indicating that farmed fish output across the region has grown five-fold in a ten year period, from 194,000 tonnes in 2002 to 1.1 million tonnes in 2011.”

“Given the decline in wild catches, this trend is likely to continue, and with 10kg per capita of fish consumption among all Arab countries, experts predict that supply must increase 20 per cent to maintain the region’s current levels of consumption.

“Up to 30 per cent of seafood provisions in the Middle East already come from aquaculture sources, and investors are now turning their attention toward the likes of Egypt, Tunisia, Morocco, Jordan, and oil-rich markets like the UAE and Saudi Arabia.”

That will come as good news to the dozens of international aquaculture players exhibiting at AGRA Middle East this year, including the Malta-based AquaBioTech Group, which will showcase its latest innovations in on-shore and off-shore aquaculture technologies.

“Participating at AGRA Middle East gives us a great opportunity to meet existing and future partners,” said Shane Hunter, Technical Director at AquaBioTech Group.  “The event has grown a lot in the last few years and attracts industry stakeholders in the Middle East and beyond.

“Last year we had visitors from Kazakhstan, Russia, Romania, Nigeria, Canada, and all the Middle East countries, and we hope to see more companies investing state-of-the-art Recirculating Aquaculture System technologies.”

Now in its eighth edition, AGRA Middle East 2014 has grown by 26 per cent year-on-year in exhibitor numbers, attracting 220 major players looking to meet an audience of key decision makers with a combined purchasing power in excess of US$120 million.

The three-day event returns with two dedicated industry conferences; the Agribusiness Outlook Forum, addressing the key issues surrounding the mounting food import bill for the GCC; and the Poultry Outlook Forum, offering the latest advances in poultry research.

A major highlight of the 2014 edition is the AGRAme Awards, recognising individuals, departments, teams and organisations that have contributed to the growth and development of the agricultural industry with focus on best practices and innovative approach.

Held under the patronage of His Excellency Dr. Rashid Ahmad Bin Fahad, Minister of Environment and Water, AGRA Middle East is sponsored by platinum sponsor Al Dahra Agriculture and supported by the UAE Ministry of Environment and Water.

AGRA Middle East is co-located with VET Middle East, the leading event for the burgeoning veterinary industry in the region, presenting an opportunity for international suppliers and local distributors to showcase latest technologies, equipments and medicines in the veterinary sector.

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 15236 times
PR Category : Others
Posted on : Sunday, February 9, 2014  12:01:00 PM UAE local time (GMT+4)
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