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Opportunities for New Zealand agritech companies in the UAE

Alpha Kennedy, our Dubai-based Director for the Middle East and Africa, recently shared a few insights from his patch during a webinar hosted by New Zealand Trade and Enterprise.

The webinar – entitled Discover Agritech UAE: What's the Opportunity? – covered opportunities in the aquaculture, irrigation management, intelligent crop monitoring and harvesting automation sectors, while highlighting the UAE's ambitious plan to become the world’s most food-secure nation by 2051.

Alpha says while the UAE’s agriculture sector has traditionally been constrained by the region’s challenging agroclimatic conditions, a renewed focus on food security has spurned funding and expansion of agriculture production in the region.

In particular, agritech innovations offer opportunities to overcome environmental challenges, such as climate-controlled agriculture and intensive aquaculture.

According to GMI Research, the opportunity for New Zealand companies is a USD 51 million agritech market forecast to grow at 15.7% CAGR.

“The UAE is located in an arid zone, where desert environment accounts for more than three quarters of the country's total area,” says Alpha.

“Its environment is characterised by low rainfall, high temperatures, poor soil and lack of natural waterways, all of which have a clear impact on the country's agricultural sector.

“Fertile land is at a premium and is high-risk for overuse and nutrient depletion.”

But despite these environmental challenges, Alpha says, the Government has prioritised agricultural production in an effort to contribute to food diversity and food security for its citizens and residents.

“The UAE currently ranks 21st on the Global Food Security Index but has set the target of becoming the world’s most food secure nation by 2051,” says Alpha.

“Achieving this goal will require concerted effort to increase domestic food production, acquisition or establishment of farms abroad to produce protein and crops not suited to for the country's arid environment and a significant reduction in food waste from farm to plate.

“New Zealand is well placed to enter the UAE market due to its reputation for premium, green products, advanced research and development capability, approach to market-driven innovation and reputation as a Tier 1 Agriculture Producer.

"It also has existing established relationships at the Government-to-Government level.

Check out a brief interview with Alpha here.