Saudi Arabia is in discussions with Ukraine, Pakistan, Sudan, Turkey and Egypt to develop largescale agricultural projects to secure food supplies. Projects of at least 100,000 hectares (247,105 acres) may be set up to grow wheat, corn, rice, soybeans and alfalfa, with a fixed portion of the harvests to be shipped to Saudi Arabia, a report said, citing Deputy Agriculture Minister Abdullah Al-Obaid. The drive to set up overseas farms was spurred by soaring food prices and Saudi Arabia's decision to halt a wheat-producing project from 2016, curtailing production of about 2.5 million metric tons, the report said. The report could not be independently confirmed from the Agriculture Ministry because of the week-off. Although no deals have been finalized, government officials had been discussing the plans with numerous countries on the basis of some key “principles”, Obaid was quoted as saying. These included agreements that a certain percentage of whatever was produced was exported back to Saudi Arabia; that the governments would negotiate a bilateral agreement to protect any investments; and that the Saudi private sector would be the main investor, either alone or as part of a joint venture. The government's role would be to facilitate and “cover” the investment, as well as help with infrastructure. “They (the private sector) have the technology, they have the experience and they have the money,” Obaid said. “We would like to secure our strategic food grains, especially wheat, rice, corn, soyabean and alfalfa.” The massive rises in food prices, particularly wheat and rice, have caused a number of Arab countries to look to develop schemes in other nations. Food costs have also been a significant contributor to the double-digit inflation that is causing mounting concern in the Middle East. __
