Money Canada’s dispute with Saudi Arabia has agriculture industry on edge

07:20  10 august  2018
07:20  10 august  2018 Source:   globalnews.ca

Saudi Arabia expelling Canadian ambassador

  Saudi Arabia expelling Canadian ambassador Saudi Arabia expelling Canadian ambassador"We consider the Canadian ambassador to the Kingdom of Saudi Arabia persona non grata and order him to leave within the next 24 hours," Saudi Arabia's foreign ministry said on Twitter.

Since the Middle Eastern kingdom launched the dispute on Sunday evening over tweets sent the week prior, Saudi Arabia has recalled its ambassador, expelled Canada ’ s ambassador, frozen new business and trade, ordered Alberta. Canada ’ s oil industry led economic growth in May — but will it continue?

Amid a deepening diplomatic dispute , Saudi Arabia ’s decision to sell off its Canadian assets in a fire sale could benefit investors outside the kingdom and have little impact on Canada ’ s economy, say experts.

Green Prairie International has been dealing with Saudi Arabia for the last decade.© Global News Green Prairie International has been dealing with Saudi Arabia for the last decade.

Green Prairie International -- the name says it all. It's a forage production facility that ships worldwide, and as such, Canada's latest political battle with Saudi Arabia could cost them big business.

"The consequences are quite negative extensively, everywhere," says business manager John Van Hierden.

Green Prairie International has been dealing with Saudi Arabia for the last decade, as the newly developed dried corn silage was expected to be a booming business in the Middle East, but now Van Hierden fears that it is all up in the air.

Saudi Airlines to suspend Canadian flights

  Saudi Airlines to suspend Canadian flights TORONTO - The rift between the federal government and Saudi Arabia has prompted the country's state airline to suspend operations in Canada. Saudi Airlines issued a tweet early Tuesday saying flights to and from Canada would be suspended starting August 13. Saudi Arabia operates at least two routes to the country, both of which depart from Toronto. Transport Canada did not immediately respond to request for comment on the decision. Saudi Airlines' Saudi Airlines issued a tweet early Tuesday saying flights to and from Canada would be suspended starting August 13.

Industries . UAE, Arab League voice support for Saudi Arabia in Canada dispute . So far this year, Canada has exported C.4 billion in merchandise goods to Saudi Arabia and imported C billion, according to Statistics Canada data.

Industries . Related Articles. Saudi Arabia mulls more measures against Canada as dispute rumbles on. 08 Aug 2018. US refuses to pick sides in Canada - Saudi dispute .

"If you take an up-and-coming market like Saudi Arabia with the potential to ship upwards of 50,000 metric tons there, it's more than millions of dollars."

Saudi Arabia has already blacklisted wheat and barley exports from Canada.

Cam Dahl with Cereals Canada said 135,000 tons of barley has been going to Saudi Arabia every year.

"That represents about seven per cent of our total barley exports every year so that is a significant number and a significant loss," added Dahl.

Market access is not a new problem for the grain industry and this latest tiff adds to the struggle.

"If this was just one country where we were having market access and concerns about growing protectionism, it would be a speed bump along the road but it's not," said Dahl. He added, "It's costly for farmers and it's very worrisome for an industry that depends on trade."

Canada not clear yet on Saudi retaliation

  Canada not clear yet on Saudi retaliation OTTAWA - A federal official says Canada remains unclear about the measures Saudi Arabia is taking in response to Canadian criticism of its human rights policies. The official says Foreign Affairs Minister Chrystia Freeland spoke with her Saudi counterpart Tuesday in part to get clarity about the measures, including one report that said Saudi banks and pension funds had been ordered to sell off their Canadian assets. Saudi Arabia has not confirmed that report, and the official — who spoke on condition of anonymity given the sensitivity of the matter — says a full understanding of their plans remains elusive.

HAMBURG (Reuters) - Saudi Arabia ’ s main state wheat buying agency has told grains exporters it Another trader said: “This is to me clearly part of the diplomatic dispute between Saudi Arabia and Canada , there is no G3 is a partnership of Saudi Arabian agriculture company SALIC and U. S

CAIRO (Reuters) - Saudi Arabia ' s oil supplies to Canada will not be impacted by a dispute between the two countries, the kingdom' s energy minister said on Thursday, reassuring customers after Riyadh froze new trade with Canada and ruled out mediation efforts. The world' s largest oil exporter has a

No matter the size of the county, Dr. Shamsul Alam, a professor of finance in the faculty of management at the University of Lethbridge said trade loss of any size leaves a mark.

"Any dispute is harmful, whether it is small or it is significant. For example, in the agriculture sector, one in two employment opportunities in the agriculture sector is based on the exports of agriculture products."

With an unknown future in the feed market, Dahl added the entire industry is waiting to see the ripple effect.

"That kind of volatility is not good for grain farmers and it's also not good for beef producers who are looking for a stable supply of reasonably-priced product."

Saudi Arabian group apologizes for posting image appearing to threaten Canada with 9/11-style attack .
Saudi Arabian group apologizes for posting image appearing to threaten Canada with 9/11-style attack"As the Arabic saying goes: 'He who interferes with what doesn't concern him finds what doesn't please him,'" reads a caption superimposed over the image. The infographic also accuses Canada of "sticking one's nose where it doesn't belong.

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