Food & Agriculture
Syria’s poultry sector produced about 3.5 billion eggs and 200,000 tons of meat last year, according to a report by the Federation of Chambers of Agriculture (FCA).
Syria’s state-owned food manufacturing companies generated total sales of SYP 6.3 billion last year, according to local reports.
The suspension of production at National Sugar Company is due to a legal dispute, not the security situation in the country, minority shareholders of the company have said.
Nagib Assaf, a founding shareholder in National Sugar Company, one of two private refiners in the country, has announced the suspension of operations in the company because of the unrest gripping the country, as a local court asked for a freeze of his assets.
The Syrian Government will disburse this year some SYP 13.5 billion to support the purchase by farmers of their agricultural inputs.
The state-owned water bottling company, which has a monopoly over mineral water bottling in Syria, said it generated SYP 282 million in net profits in 2011.
Syria’s Cotton Marketing Organisation has bought a total of 638,000 tons of seed cotton from this year’s crop, according to its Director General, Nazir Lababidi.
Syria’s General Company for Mills produced 1.6 million tons of flour in the first nine months of this year and posted a trade loss of SYP 37.8 billion because of the subsidies it provides on this product.
The Syrian President has issued a decree requesting the Agricultural Cooperative Bank to ease lending procedures to farmers in a bid to boost production.
Syria’s General Company for Mills plans to grind 2.8 million tons of wheat next year and to produce out of it some 2.2 million tons of flour for bread production; about 1.7 million will be grinded through the company’s mills and the rest through private sector mills.
Syria’s olive oil production in the 2010/2011 crop is estimated at 180,000 tons, while exports are forecast at 25,000 tons, according to the International Olive Oil Council.
Syria recently extended until February of next year a tender to purchase 44,000 tons of rice from world markets.
Syria’s wheat crop is estimated to have reached some 3.8 million tons after initial forecasts had raised fears it would be at a much lower level.
Syria’s state-owned water bottling company has reported profits of SYP 254 million in the first three quarters of this year as it plans to capitalize on its monopoly status to expand capacity.
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2nd International Finance Markets Investment Forum 2011
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