Billion dollars in investments in the Gulf food sector

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The Gulf Organization for Industrial Consulting (GOIC) said that the total investments in the food industry in the GCC countries amounted to 25 billion dollars last year, while the number of workers in this sector 257 thousand workers, distributed to 2063 factories.

The value of food imports in the Gulf rose at an annualized rate of 11.2 percent from $ 23.6 billion in 2014 to $ 29.17 billion in 2016. It is expected to reach $ 32.4 billion in 2017, sources say.

The average food consumption is expected to rise at a CAGR of 4.2% from 48.2 Mt in 2016. To 59.2 Mt in 2021.

The value of food imports in the GCC is expected to rise to $ 53.1 billion over the next four years.