Saudi production of mangoes exceeds 88.6k tons annually to reach 60% self-sufficiency

The Kingdom has been cultivating the mango fruit crop to increase production by planting an area of more than 6,880 hectares. (SPA)  
Short Url
Updated 09 April 2023
Follow

Saudi production of mangoes exceeds 88.6k tons annually to reach 60% self-sufficiency

RIYADH: Saudi Arabia’s mango production increased to 88,600 tons annually reaching 60 percent self-sufficiency in line with Vision 2030 objectives.  

The Kingdom has been cultivating the mango fruit crop to increase production by planting an area of more than 6,880 hectares.  

The Ministry of Environment, Water and Agriculture has been keen to increase the production of mangoes, achieve food security and raise the rate of cultivation as part of its strategy to achieve the goals of Vision 2030.  

The ministry also stated that tropical fruit crops like mango have high economic returns to the Kingdom.  

The seasonal fruit crop grows across multiple fields in the Kingdom with the most notable being in the Jizan region in Sabya, Abu Arish, Al Darb, Samtah, and Baish governorates as well as in Al Qunfadhah governorate in Makkah region.  

Mangoes are also grown in the Al-Bahah region in Al-Makhwah and Qilwa cities, in addition to Asir, Najran, Madinah, and the Eastern region.  

The ministry stated that the mango production season extends from April to August and that the Kingdom produces over 20 varieties of mangoes during this period including Awais, Sukkari and Tommy Atkins.  

In 2005, the Kingdom had around 250,000 mango trees producing just over 18,000 tons per year, according to a report by the Saudi Press Agency.  

Moreover, the number of mango farms in 2022 exceeded 19,100 with one million mango trees and over 65,000 tons of annual production.  

Al-Qunfadhah has over 2,700 farms with a total of 400,000 trees and annual yields exceeding 40,000 tons.  

Sabya is home to one of the country’s largest farms, with more than 30,000 trees and an annual production of more than 600 tons.   

The Kingdom’s agriculture sector witnessed massive improvements since King Salman inaugurated the Sustainable Agricultural Rural Development Program in 2019.  

The program set objectives to boost the production, processing and marketing of fruit, fish, livestock, Arabic coffee and rain-fed crops.  

 


Dubai Aerospace to buy Macquarie AirFinance in $7bn deal

Updated 14 sec ago
Follow

Dubai Aerospace to buy Macquarie AirFinance in $7bn deal

  • Combined fleet to total 1,029 aircraft across ‌79 countries
  • Acquisition adds 37 airline customers, expands into seven new countries
  • Deal expected to close in H2 2026, subject to regulatory approvals

DUBAI: Dubai Aerospace Enterprise said on Thursday it will buy aircraft leasing firm Macquarie AirFinance for an enterprise value of about $7 billion, creating a combined fleet of 1,029 planes and one of the world’s biggest lessors.

The sale, which followed a competitive bidding process, underscores strong investor appetite ‌for aircraft ‌assets as Boeing and Airbus struggle to ​ramp ‌up ⁠production to ​meet airline ⁠demand.

The global aircraft leasing market is dominated by AerCap Holdings N.V. and SMBC Aviation Capital, both based in Ireland.

The Macquarie AirFinance deal would lift DAE into the top tier, analysts said.

“(It) ... fast tracks Dubai Aerospace Enterprise to the forefront of global aircraft leasing,” said Tim Waterer, chief market analyst at KCM Trade, ⁠adding that the deal also diversifies the Dubai ‌state-owned lessor’s customer base and increases ‌exposure to newer aircraft, even as ​supply constraints at major manufacturers ‌persist.

The combined fleet will serve 191 airlines in 79 countries, ‌with narrowbody jets accounting for about 70 percent of the portfolio, DAE said.

The acquisition, which adds 37 airline customers including carriers in seven countries where DAE has no presence, will be funded through a mix ‌of debt and equity.

DAE CEO Firoz Tarapore said the deal would create a “bigger, stronger, more ⁠diversified and ⁠well-capitalized” company, adding that the combined entity’s scale would support more competitive pricing and a broader customer offering.

DAE is owned by the Investment Corporation of Dubai, the main investment arm for the government of the emirate. The company acquired Dublin-based AWAS, the world’s tenth biggest aircraft lessor, in 2017.

Macquarie AirFinance is owned by Australia’s diversified investment service provider Macquarie Group.

The deal has been approved by DAE’s board and is subject to regulatory approvals, DAE said in a statement.

It is ​expected to close in ​the second half of 2026.