
Ukrainian pea prices may rise amid expected exports to China, producers say
KYIV: Prices for Ukrainian peas may rise significantly by mid-summer on the back of expected significant supplies to China, which opened its market to Ukrainian peas this spring, Ukrainian producers union UAC said on Thursday.
Farmers sowed 250,000 hectares of peas in 2025 compared with 212,000 hectares in 2024, farm ministry data shows.
'China has opened its market, and a significant part of the peas will probably go there,' UAC said in a statement.
UAC said an increase in demand could push pea prices up to as much as 16,000 hryvnias ($385.33) per metric ton ex works (EXW) in late summer against the current 14,000 hryvnias.
The farm ministry has said pea production in Ukraine could increase to 476,000 metric tons in the 2025/26 July-June season from 409,000 tons in 2024/25.
Ukraine exports its peas mostly to Turkiye, India, Italy, Malaysia, the ministry said.

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Arab News
36 minutes ago
- Arab News
Plant-based diets transform Saudi agriculture and fuel Vision 2030
RIYADH: A green revolution is taking root in Saudi Arabia as plant-based diets gain popularity, reshaping the Kingdom's agricultural landscape and creating new opportunities for local farmers. This growing shift toward plant-based living not only reflects global dietary trends but also represents a strategic step toward economic diversification and environmental sustainability — key pillars of Saudi Arabia's Vision 2030 initiative. The agricultural sector has shown impressive growth, with the Kingdom's agricultural gross domestic product reaching a record SR114 billion ($30.3 billion) in 2024, according to PwC. Despite this progress, Saudi Arabia remains a net importer of both food and animal feed, highlighting ongoing challenges in achieving national food security. Experts say the solution lies in innovation. Phil Webster, partner at consulting firm Arthur D. Little and head of its consumer goods, retail, and agriculture division, emphasized the potential of alternative crops and supporting technologies. According to him, the greatest opportunity in agriculture lies in embracing innovation — from alternative crops to smart technologies — to meet rising demand, reduce costs, and enhance food sovereignty. As plant-based trends continue to flourish, Saudi Arabia's evolving agricultural strategy may well position the Kingdom as a regional leader in sustainable food production. 'Plant-based diets are often inherently more sustainable — production of meat and dairy for example is one of the most land and water intensive activities on the planet, as well as a major contributor to global warming due to land use change and methane emissions from ruminant animals,' Webster told Arab News. He added that plant-based diets necessitate consumers to seek non-meat protein alternatives, creating opportunities to focus more on conventional high-protein crops such as chickpeas, lentils, and quinoa, which naturally exhibit greater tolerance to drought and salinity compared to many other arable crops. The ADL partner noted that crops such as lentils can play a key role in improving meat alternatives, including products like lentil burgers, with ongoing efforts aimed at increasing their resilience to harsh environmental conditions. Webster also pointed to the growing momentum behind vertical farming, which is attracting more than $1 billion in annual venture capital investment. This method supports year-round, high-quality food production in compact urban environments by utilizing advanced lighting, irrigation, and automation technologies — enabling crops to be grown virtually anywhere with minimal risk of pests and diseases. He said: 'Finally, a rise in 'lab grown meat' has seen a temporary boom in investment, but then a subsequent decline due to the costs of production and also consumer appetite when it comes to taste and mouthfeel of unfamiliar products.' According to consultancy firm Strategy& Middle East, businesses across Saudi Arabia's agricultural sector are increasingly adopting integrated, technology-driven supply chain models to meet the growing demand for plant-based and locally sourced products. Roger Rabbat, partner at Strategy&, highlighted that major agribusinesses such as NADEC are leading this shift by implementing controlled-environment farming in partnership with Pure Harvest. This approach enables the year-round production of pesticide-free, locally grown vegetables, enhancing both food quality and supply chain resilience. 'Startups have also been active to adapt to these trends as well, with companies like Red Sea Farms collaborating with Saudia Airlines to supply sustainable food to customers by levering RSF's innovative solutions around irrigation and greenhouse technology,' Rabbat told Arab News. Supply chain Providing sustainable, locally sourced food not only strengthens national food security but also supports public health initiatives — including biofortification, which enhances the nutritional value of food without requiring major changes to traditional eating habits. Patrick Wall, a medical doctor, veterinarian, and professor of public health at University College Dublin, noted that Saudi poultry producers, in collaboration with King Abdulaziz University, are exploring the use of algal oil in animal feed as a way to address nutrient deficiencies and improve overall public health outcomes. 'Microalgae are tiny aquatic organisms that, while not technically classified as plants, are photosynthetic and can be sustainably cultivated for use in both animal feed and dietary supplements,' Wall, who is also a former chair of the European Food Safety Authority, told Arab News. Wall emphasized that fortifying poultry with Omega-3 DHA could play a significant role in combating heart disease and diabetes in Saudi Arabia, which ranks among the world's largest poultry consumers. He explained that the human body cannot produce sufficient Omega-3 fatty acids on its own, making dietary intake essential. However, fish — a primary source of Omega-3s — is often avoided by many Saudis, particularly younger generations, leading to nutritional gaps that enriched poultry could help address. 'Tanmiah and Arabian Farms are the first companies in the region to produce DHA (Docosahexaenoic Acid) enriched poultry and eggs and they helped King Abdulaziz University to deliver this research. They are showing that the private sector is ready to engage in food innovation that benefits both public health and business growth,' Wall said. Rabbat, from Strategy&, noted that the record agricultural GDP achieved by the Kingdom in 2024 is being driven by ecosystem-wide innovation, supported by the introduction of new products and technologies such as precision irrigation and vertical farming. 'SADAFCO has launched Saudia Oat Milk, the Kingdom's first locally produced oat based milk, to meet the rising demand for plant-based alternatives. Mishkat Agritech, based in Jeddah, leverages hydroponic greenhouse and vertical farming techniques to reduce water usage by up to 90 percent compared to traditional agriculture,' he said. The Strategy& Middle East partner added: 'These innovations directly support Vision 2030 by advancing food security, reducing import dependence, enabling sustainable resource use, and fostering a resilient, tech-driven economy.' Food system innovation There is no doubt that Vision 2030 places strong emphasis on building a vibrant society, enhancing quality of life, diversifying the economy, and empowering the private sector in Saudi Arabia. In the agri-food sector, this vision translates into prioritizing public health and nutrition, developing consumer-friendly products, strengthening food security, and advancing sustainable food production. From the perspective of Arthur D. Little, innovation in sustainable food systems is a cornerstone of this national transformation. One particularly promising area is the use of functional ingredients to boost the nutritional profile of everyday foods. Webster highlighted that Saudi scientists are working to reduce the country's dependence on imported animal feed by cultivating microalgae locally. Researchers at King Abdullah University of Science and Technology are leading efforts to develop seawater-adapted microalgae strains and are investigating the potential for algae farming on the salt flats along the Arabian Gulf. Projects like TOPIAN, part of NEOM Food Co., are showcasing how advanced, climate-resilient infrastructure can bolster local food production. TOPIAN recently inaugurated its first controlled-environment glasshouses, engineered to grow fruits and vegetables year-round. These facilities also serve as testing grounds for evaluating the viability of various crops across different production systems. 'Cooling efficiency, radiation control, solar integration, and water conservation are among the key innovations being explored to enable consistent domestic supply of crops such as lettuce, tomatoes, and strawberries,' Webster said. The ADL partner acknowledged that while the full impact of these innovations on national food system productivity is still emerging, their long-term potential is substantial. From Strategy&'s perspective, Rabbat emphasized that the growing 'plant-based prosperity' trend is steering Saudi agriculture toward sustainable, technology-driven models designed to address water scarcity, climate challenges, and increasing consumer demand.


Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
As Trump Mulls Sanctions, Russia's Military Economy Slows
After three years of doom-defying growth, Russia's heavily militarized economy is slowing, facing a widening budget deficit and weak oil prices, all under the threat of more Western sanctions. Huge spending on guns, tanks, drones, missiles and soldiers for the Ukraine campaign helped ensure Moscow bucked predictions of economic collapse after it launched its offensive in 2022. But as Kyiv's most important backers head Sunday to Canada for the G7, where US President Donald Trump will face pressure to hit Russia with fresh sanctions, the Kremlin's run of economic fortune is showing signs of fatigue. "It is no longer possible to pull the economy along by the military-industrial complex alone," Natalia Zubarevich, an economist at Moscow State University, told AFP. Government spending has jumped 60 percent since before the offensive, with military outlays now at nine percent of GDP, according to President Vladimir Putin. "Almost every other sector is showing zero or even negative growth," said Zubarevich. Russia's economy expanded 1.4 percent on an annualized basis in the first quarter -- down from 4.1 percent in 2024 to its lowest reading in two years. The central bank predicts growth of no more than 1-2 percent this year. Russia's economy "is simply running out of steam", Alexandra Prokopenko, a former central bank advisor and now analyst based outside Russia, wrote in a recent note. Oil reliance Putin, who has reveled in Russia's strong performance, has brushed off concerns. "We do not need such growth," he said at the end of last year, when the slowdown started. Rapid expansion risked creating "imbalances in the economy, that could cause us harm in the long run", he said. Top among those imbalances has been rapid inflation, running at around 10 percent. The Central Bank last week nudged interest rates down from a two-decade-high saying price rises were moderating. But those high borrowing costs -- combined with falling oil prices -- are the main factors behind the slowdown, economist Anton Tabakh told AFP. Russia's Urals blend of crude oil sold for an average of $52 a barrel in May, down from $68 in January -- a big reduction in energy revenues, which make up more than a quarter of government income. Russia this year has raised taxes on businesses and high earners, essentially forcing them to stump up more for the Ukraine offensive. But the new income "only covers the shortfall in oil sales", said Zubarevich. With tighter finances, Russia's parliament was this week forced to amend state spending plans for 2025. It now expects a budget deficit of 1.7 percent of GDP -- three times higher than initially predicted. Trump factor Ukrainian President Volodymyr Zelensky is urging Trump to whack a fresh set of economic sanctions on Moscow as punishment for rejecting ceasefire calls and continuing with its deadly bombardments of Ukrainian cities. "Russia doesn't really care about such human losses. What they do worry about are harsh sanctions," Zelensky said Thursday "That's what really threatens them –- because it could cut off their funding for war and force them to seek peace," he added. Trump's intentions are unclear. He has publicly mulled both hitting Moscow with new sanctions and removing some of the measures already in place. Some US senators, including Republicans, have proposed hitting countries that buy Russian oil with massive tariffs, to try to dent the flow of billions of dollars to Moscow from the likes of China and India. In Moscow, officials flip between blasting sanctions as an "illegal" attack on Russia and brushing them off as an ineffective tool that has backfired on Europe and the United States. Russia has also talked up its ability to continue fighting for years -- whatever the West does -- and has geared its economy to serving the military. Moscow still has the cash to wage its conflict "for a long time", Zubarevich said. "Through 2025 definitely. 2026 will be a bit tougher but they will cut other expenses. This (military) spending will stay."


Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Analysts: Shein's Planned Hong Kong Listing to Benefit from Wider Capital Pool
Shein's planned listing in Hong Kong will help the online fast-fashion retailer avoid sharp investor scrutiny of its supply chains while tapping into capital from the mainland and emerging market investors, analysts said. The Singapore-headquartered company has turned its public market debut ambitions to Hong Kong after failing to win Chinese securities regulatory approval to proceed with a London initial public offering, Reuters reported last month, citing sources. While a listing, if successful, would be a big boost for Hong Kong, the move would cast a cloud over the company's efforts in recent years to gain legitimacy as a global, rather than a Chinese company. Shein, which sells products including $5 bike shorts and $18 sundresses, has faced political and environmental group pressure in the UK over its cotton sourcing and supply chain practices. It has also faced allegations that its clothes contain cotton from China's Xinjiang region, where the US and NGOs have accused the Chinese government of human rights abuses and forced labor. Beijing denies any abuses. The company, which moved its headquarters from China to Singapore in 2022, has previously said it has a zero-tolerance policy for forced labor and requires its contract manufacturers to only source cotton from approved regions. "If it is the only option now open to them, the Hong Kong market does make sense as a place where you could list a global business with a mainland supply chain," said Eliot Fisk, a Hong Kong capital markets consultant and former JPMorgan banker. Shein did not respond to a Reuters request for comment. Before its attempt to list in London, Shein had pursued a listing in New York. The China-founded company had also faced regulatory hurdles and pushback from US lawmakers in its attempt to list in the United States. "Listing in Hong Kong would also likely dodge the protests and political pushback it might face in the UK," said Craig Coben, former Bank of America co-head of capital markets in Hong Kong. While it is not known whether Shein plans to seek any waivers for a potential Hong Kong listing, several waivers, including disclosure-related waivers, can be sought by large IPO hopefuls in the Asian financial hub, according to capital market lawyers. A Hong Kong listing would also allow Shein to eventually be added to the city's Stock Connect scheme which gives easier access for mainland and Hong Kong-based investors to buy shares on each country's respective markets more easily. Shein would easily meet the market capitalization and other criteria for inclusion in the connect scheme and for attracting mainland investment, said Hong Kong-based advisory firm Emmer Capital Partners CEO Manishi Raychaudhuri. There was a 255% year-on-year increase in average daily turnover in the first three months of the year in Southbound trading, mainland investors buying and selling Hong Kong stocks, the Hong Kong Exchange said in its first quarter results. "Hong Kong would have a dominant presence of Asia and emerging market-focused investors. London on the other hand, would have a significant presence of global and developed market investors," Raychaudhuri said. "The supply chain issues would have been a more important consideration for the latter set of investors."