GFM Network News


Saudi Arabia completes first phase of flour mill privatization

Dubai/London | Reuters — Saudi Arabia said on Wednesday it had completed the first batch of its flour milling sector privatization, according to a statement by the state grain buyer and privatization centre. The long-awaited flour mills sale was one of the first privatizations the kingdom planned as part of a wide-reaching overhaul of its […] Read more

G3 co-owner SALIC looking at Iraq farmland

Dubai | Reuters –– The Saudi Agricultural and Livestock Investment Company (SALIC) is looking at more farmland investment opportunities and has its neighbour Iraq on the list. SALIC, an arm of the country’s Public Investment Fund (PIF), said it was also looking to expand its investments in the Black Sea region, which already includes almost […] Read more








Egypt bans ergot in wheat, again

Cairo/Abu Dhabi | Reuters — Egypt reinstated on Sunday a controversial ban on wheat shipments containing even the slightest amount of a common grain fungus, baffling traders who had returned to the Egyptian market just last month when the ban was lifted. The world’s largest wheat importer said on Sunday it was re-introducing its zero […] Read more

Egypt’s wheat corruption scandal takes down supply minister

Cairo/Abu Dhabi | Reuters — Egypt’s Minister of Supply Khaled Hanafi has resigned amid the highest-profile corruption case since President Abdel Fattah al-Sisi came to power in 2014. Hanafi’s resignation is the most senior-level fallout from a probe into whether millions of dollars intended to subsidize farmers were used to purchase wheat that did not […] Read more


Egypt returns to zero tolerance of ergot in wheat

Abu Dhabi/Cairo | Reuters — Egypt has rejected two shipments of wheat for containing trace levels of the ergot fungus, backtracking on a government pledge to apply international standards and alarming traders looking to do business with the world’s largest buyer of the grain. Earlier this year traders boycotted state wheat tenders after the country’s […] Read more

FAO chief expects food prices to fall further

Abu Dhabi | Reuters — World food prices are seen falling further this year having settled near their lowest in seven years pressured by slowing economic growth, the United Nations’ Food and Agriculture Organization’s (FAO) director general said Tuesday. The FAO’s food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy […] Read more