Agthia, the Abu Dhabi company that produces Al Ain Water and flour and feed, plans to build silos to store up to 50,000 tonnes of grain.
The move is designed to provide emergency reserves for consumers in the emirate.
Agthia's decision comes after global food prices hit a record high last month, exceeding the peaks of 2008 when the Federal Government froze prices of key foodstuffs at retail outlets.
The silos are planned to be part of Agthia's new production and distribution complex, which is designed to house a flour mill and a frozen foods plant.
The completed facility will increase Agthia's flour production capacity by 50 per centand will incorporate 10 grain silos storing 5,000 tonnes each. The silos will be owned by the Abu Dhabi Food Control Authority, said Ilias Assimakopoulos, the chief executive of Agthia Group.
"The silo project is undertaken by the Abu Dhabi Food Control Authority, which has been mandated by the Government to address some of the food security matters … At any point in time, we will make sure that a certain amount of wheat is available in case of emergency," he said at ground-breaking ceremony for the complex.
The facility in Abu Dhabi's Al Wathba area will be built at an estimated initial cost of between Dh48 million (US$13.06m) and Dh50m, and is due to start production in the fourth quarter of this year. The frozen foods plant is expected to be operational by the second quarter of next year.
The UN Food and Agriculture Organisation's food price index, which incorporates the average prices of meat, dairy products, cereals, cooking oil, fats and sugar, reached 215 points last month, up 25 per cent from the same month in 2009. This surpassed the previous record of 213.8 points in June 2008, the height of the 2007-2008 food price rise that triggered riots in countries including Egypt and Haiti.
Meanwhile, the food security committee at the Riyadh Chamber of Commerce on Sunday called for more storage facilities for wheat, barley, soya beans, sugar, rice and other food commodities to cushion the effects of price rises, according to Bloomberg.
Retailers in the UAE say prices of certain items in the shops such as sugar and oil have approached 2008 levels but not yet reached "extraordinary" levels. However, many expect consumers to feel the pinch later this year.
Mr Assimakopoulos said he did not anticipate price rises in the company's bread and animal-feed products, because of long-standing subsidies provided by the Abu Dhabi Government.
"For the time being, as a result of this government initiative to protect the consumers, we don't anticipate any major threat to the retail prices. Clearly, the burden has been absorbed by the Abu Dhabi Government." Agthia has not raised any of its prices but may review its prices in the future if other commodities become costlier, he said.
"Outside of grains, the only other element in terms of raw material that would have an impact on us is sugar, but its not a primary activity [for us] … it depends on how aggressive these raw material increases are.
"We might have to reflect this into our price. We haven't taken any price increases yet, but we might in 2011. We will see how the pricing of raw materials develops."
aligaya@thenational.ae
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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COMPANY%20PROFILE
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The biog
Age: 23
Occupation: Founder of the Studio, formerly an analyst at Cleveland Clinic Abu Dhabi
Education: Bachelor of science in industrial engineering
Favourite hobby: playing the piano
Favourite quote: "There is a key to every door and a dawn to every dark night"
Family: Married and with a daughter
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MATCH INFO
Manchester United v Brighton, Sunday, 6pm UAE
MATCH INFO
Day 2 at Mount Maunganui
England 353
Stokes 91, Denly 74, Southee 4-88
New Zealand 144-4
Williamson 51, S Curran 2-28
MATCH INFO
Uefa Champions League, Group B
Barcelona v Inter Milan
Camp Nou, Barcelona
Wednesday, 11pm (UAE)
In numbers
- Number of children under five will fall from 681 million in 2017 to 401m in 2100
- Over-80s will rise from 141m in 2017 to 866m in 2100
- Nigeria will become the world’s second most populous country with 791m by 2100, behind India
- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100
- an average of 2.1 children per woman is required to sustain population growth
Indika
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%2011%20Bit%20Studios%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Odd%20Meter%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%205%2C%20PC%20and%20Xbox%20series%20X%2FS%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
More on Palestine-Israeli relations
The specs
Engine: 2.9-litre twin-turbo V6
Power: 540hp at 6,500rpm
Torque: 600Nm at 2,500rpm
Transmission: Eight-speed auto
Kerb weight: 1580kg
Price: From Dh750k
On sale: via special order
Voy!%20Voy!%20Voy!
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