Gulf states seek food security in Europe, US after African problems
ABU DHABI (REUTERS) - The desert states of the Gulf are changing tack in their multi-billion dollar search for food security.
With their farming projects in some of the poorest African nations sometimes arousing local hostility, wealthy Arab investors are turning to those developed countries that comfortably produce more food than they consume.
United Arab Emirates-based agricultural firm Al Dahra has chosen this path in March, buying eight agricultural companies for US$400 million (S$507.8 million) in Serbia, a major food exporter where public attitudes to foreign-owned farming may be less sensitive.
Projects in Europe, North America and Australasia tend to be more expensive and offer less scope to build vast estates like in Africa.