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September 2020

Abu Dhabi agri producer price index up 13.2pc

Prices of the Agriculture Producer Price Index, APPI, increased by 13.2 per cent during May 2020, reported Emirates News Agency WAM, citing figures released by Statistics Centre - Abu Dhabi (SCAD).

Figures released by the official statistics centre representing Abu Dhabi Emirate showed that APPI was 82.1 per cent in May 2020 compared with 72.5 per cent in May 2019.

Prices of APPI increased by 19.8 per cent during May 2020 compared with April 2020, where the APPI rose to 82.1 per cent in May 2020 from 68.5 per cent in April 2020.

The ‘Cucumber’ group contributed 135.4 per cent to the overall increase in the APPI in May 2020 compared with April 2020, where the prices of this group increased by 65.0 per cent with a weight of 50.3 per cent.

SCAD provides an analysis of the results of the APPI for May 2020 with the base year 2018. In addition, the publication provides the results of calculating the contributions ratios of the Agriculture groups in the overall percentage change for the current month compared with the previous month.

 

Saudi ports handle 25m tonnes of cargo in July

Saudi ports, supervised by the General Authority for Ports (Mawani), handled 25 million tonnes (mt) of cargo during the month of July 2020.

The total number of exported and imported containers was 630,000, coming on board 935 ships, a SPA release said.

According to the statistical index issued by Mawani, Saudi Arabia’s ports achieved an increase in the total number of transshipments -- more than 229,000 containers, marking an increase of 14 per cent, compared to the corresponding period of the previous year.

Saudi Arabia’s ports also recorded a 21 per cent increase in total foodstuffs, more than 2 million tonnes. The number of imported vehicles reached 35,000 vehicles, while the number of livestock was more than 387,000 heads.

Mawani seeks stimulate the logistics industry, facilitating and supporting import and export operations in the Kingdom of Saudi Arabia, as part of its strategic plans and ambitious initiatives that aim to enhance the competitiveness of Saudi ports’ services and raise the performance of its maritime, operational and logistical operations.

 

Asia to lead global FCCU capacity growth by 2024

Asia is expected to lead the global refinery fluid catalytic cracking units’ (FCCU) capacity growth, contributing about 45 per cent of the total global capacity growth by 2024.

The region is likely to add 542 thousand barrels per day (mbd) of FCCU capacity by 2024, says GlobalData, a leading data and analytics company.

GlobalData’s report, ‘Global Refinery Fluid Catalytic Cracking Units (FCCU) Outlook to 2024 – Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Fluid Catalytic Cracking Units’, reveals that the global FCCU capacity is expected to increase by 1.2 million barrels per day (mmbd), from 21.2 mmbd in 2020 to about 22.4 mmbd in 2024. Of the total capacity additions, 1.0 mmbd is expected to come from new-build planned and announced projects while the remaining 0.2 mmbd is likely to come from the expansions of active projects.

Haseeb Ahmed, Oil and Gas Analyst at GlobalData, comments: “Of Asia’s total FCCU capacity additions of 542 mbd by 2024, 151 mbd is likely from active expansion projects while new-build projects are expected to contribute the rest of about 391 mbd by 2024. In the region, China accounts for most of the capacity additions with a combined total of nearly 481 mbd by 2024.”

GlobalData expects Africa to occupy the second place in terms of FCCU capacity additions by 2024. The region is expected to contribute about 27 per cent of the global FCCU capacity growth, with total capacity additions of 323 mbd by 2024. In Africa, Nigeria accounts for most of the capacity additions with 247 mbd.

The Middle East will be the third-highest region globally with 150 mbd capacity addition by 2024. Kuwait and Iraq are the only contributors in the region with capacities of 98 mbd and 52 mbd, respectively. 

 

Construction chemicals sector to grow by 5.5pc

The Middle East construction chemicals sector is expected to grow by 5.5 per cent compound annual growth rate by 2024, shrugging off Covid-19 after-effects that threatened to cripple most industries.

This growth, according to industry insiders, will largely be driven by the extensive demands brought about by the increase in infrastructure in the building, construction and healthcare industries.

According to Al Muqarram Group, the strategic growth of the construction chemicals market in the larger GCC region will be led by the UAE and Saudi Arabia with the two leading markets expected to remain bright spots for the construction industry throughout 2019 to 2024.

The growth comes against a backdrop of ongoing iconic projects like Expo 2020 and Fifa World Cup 2022 and many others, which are expected to drive the demand for the respective products.

Despite the negative effects of the Covid-19 pandemic, the construction chemicals market remained resilient and is expected to continue performing well at least for the next five years, said the Dubai group in its statement. 

Although it’s a predominantly fragmented market, the Middle East is also keen on maintaining high-quality standards. This is part of the reason why brand reputation, quality, costing and loyalty play a crucial role for Al Muqarram Group and its Brands Dolphin and Hi-stick as it seeks to grow its market and brand share, it stated.

 The construction chemicals industry has also grown in value - a strong indication that demand has steadily risen on the back of emerging construction trends as well as evolving regulatory standards and guidelines, it added.

By November 2017, the combined value of the 11,755 active construction projects in the UAE alone had exceeded $18.2 billion (around Dh3 trillion), accounting for over 30 percent of total value and 52 percent of all construction activity in the GCC region as a whole.

The total value of UAE’s contract awards stood at $31.6 billion as of September 2018, compared to $28.6 billion in 2017.

According to the latest data, the total value of major expo-related construction projects reached AED156 billion ($42.5 billion) by the end of March 31, 2018, driven by both the public and private sectors.

The regional governments’ vision to modernize their respective cities has also impacted the sector’s growth. Leading the pack is the UAE, which plans to transform Dubai into a smart city by 2022.  




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