MUST-READS

• Chinese food delivery giant dishes out deep discounts to win Saudi customers

  Keeta, the international arm of China’s biggest food delivery app, Meituan, has become the third-largest food delivery platform in Saudi Arabia just four months after its overseas debut. Its aggressive, price-slashing strategy is squeezing smaller players and challenging dominant platforms in the lucrative Middle Eastern market, which could be a springboard for other international markets. Since Keeta launched in Saudi Arabia last October, it has taken 10% of the Saudi food delivery market in terms of order volume, according to a recent report from Bengaluru-based business consulting firm Redseer. Its market share as of January has surpassed that of more than 10 smaller delivery apps, and challenges the domination of the country’s two locally developed platforms HungerStation and Jahez, the report’s lead researchers told Rest of World.

• GCC should target tariff-free food deals with Trump

  Since China is the US’s third-biggest export destination for food and agricultural products after Canada and Mexico, Beijing may retaliate by imposing tariffs on US imports. This would hit the US farming industry hard, as it needs export markets for soy, corn, wheat and cotton. It would also come at a time when China has already significantly decreased food imports from the US. In parallel, many observers think that the second Trump administration is likely to strengthen the US dollar. A strong dollar will make US grains more expensive, resulting in a supply shock in the Midwest, a Republican stronghold.

• The future of grain supply and food security in Saudi Arabia

  Anis Alam, a key player in Saudi Arabia’s grain supply sector, gives an exclusive interview to Miller Magazine, outlining the country’s changing food security strategies. In this in-depth conversation, he discusses the challenges and opportunities facing the grain industry, how Saudi Arabia is adapting to global trends, and the critical steps being taken to ensure sustainable supply chains for the future. Saudi Arabia plays a pivotal role in the grain markets of the Middle East due to its strategic position as a key importer and distributor of essential agricultural commodities. With its growing population and limited arable land and water resources, the country is heavily reliant on grain imports to meet its food and feed needs. As a result, grain trade has become a central element of Saudi Arabia’s food security strategy.

• Major Saudi Food Company Exits Iran After 20 Years

  The Saudi Arabian group SAVOLA has sold all its assets in Iran for 705 million Saudi riyals (approximately $188 million) and is exiting the country. SAVOLA, the largest Saudi investor in Iran, had invested in the production of cooking oils, including the brands Ladan, Bahar, and Nastaran. SAVOLA Food Company in Iran, a subsidiary of the larger SAVOLA Group, was engaged not only in the production and distribution of edible oils but also in seafood, industrial bread, and confectionery products. Iranian media outlets, including 7sobh, have speculated that the decision to sell and exit the country is linked to Donald Trump‘s re-election in the U.S. and his impending return to office. However, according to a statement issued by SAVOLA Group on Wednesday, January 1, the company’s withdrawal from Iran was “in line with the group’s strategy to exit non-core markets at the right time.”

• Saudi Arabia launches humanitarian air bridge to Syria to deliver food, shelter and medical supplies

  Saudi Arabia on Wednesday launched a humanitarian air bridge to Syria, delivering food, shelter and medical supplies' The air bridge, established by the King Salman Humanitarian Aid and Relief Centre (KSrelief), aims to 'alleviate the effects of the difficult conditions currently facing the Syrian people', the official Saudi Press Agency reported. Others, including the European Union and Ukraine, have also announced aid for Syria, where the United Nations said seven out of 10 people need support. Riyadh's air bridge will 'be followed by another land bridge in the coming days,' said Abdullah al-Rabeeah, the head of KSrelief.

• Saudi Arabia unveils world’s largest food park in Jeddah, eyes $5.3bn in investments

  Saudi Arabia has officially launched the Jeddah Food Cluster, a major project aimed at transforming the city into a global business hub with an investment target of SR20 billion ($5.3 billion). Spanning 11 million sq. meters, the cluster is now recognized by Guinness World Records as the largest food park in the world by area. The development is expected to create over 43,000 jobs, driving both local and national economic growth. Located in Jeddah’s Second and Third Industrial Cities, the Jeddah Food Cluster is part of a larger industrial network in the Makkah region, which also includes industrial cities in Makkah and Taif. This region, which spans more than 50 million sq. meters, hosts over 2,000 industrial facilities specializing in sectors such as food production, pharmaceuticals, metals, and chemicals. The new food cluster is designed to enhance industrial productivity through cutting-edge infrastructure and strategic investments in key enablers.

• Saudi-based company to build largest pet food factory in Middle East

  Delicious Food Factory (DFF), based in Jeddah, Saudi Arabia, announced it will construct what it said is the largest pet food factory in the Middle East. The new facility, spanning a total area of 55,000 square meters (592,015 square feet), will have a production capacity of 60,000 tons of dry food and 40,000 tons of wet food annually. Being built north of Riyadh, Saudi Arabia, the factory is expected to be completed by late 2026.

• Saudi Arabia Online Food Ordering and Delivery Analysis Report 2024: Market to Reach $7.95 Billion by 2029

  The online food ordering and delivery market in Saudi Arabia has experienced exponential growth in recent years, undergoing a transformative shift in the way consumers access and enjoy food. Several key factors contribute to the burgeoning success and evolution of this market within the kingdom. The market is characterized by stiff competition among various online food delivery platforms, each vying for consumer attention and loyalty.

• Saudi: Herfy Food swings to losses in 9M-24; revenues down

  Herfy Food Services Company shifted to net losses valued at SAR 56.61 million in the first nine months (9M) of 2024, compared to net profits worth SAR 2.76 million in 9M-23. Revenues stood at SAR 868.81 million in 9M-24, down 0.86% year-on-year (YoY) from SAR 876.38 million, according to the interim financial statements. The loss per share hit SAR 0.88 during January-September 2024, versus an earnings per share (EPS) of SAR 0.04 in 9M-23.

• Saudi fast food chain AlBaik set to make its debut in Pakistan

  The announcement comes as a Memorandum of Understanding (MoU) was signed between officials of the Al Baik Food System Company and Gas & Oil Pakistan Limited (GO). The signing ceremony was attended by high-ranking Saudi and Pakistani delegations under the patronage of Saudi Minister of Investment, Engineer Khalid Al-Falih, state-run APP reported on Friday, October 11.

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