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World food prices rebound in February, United Nations’ FAO says

Meat prices rose 0.8 per cent from January, led by record prices for sheep meat and stronger demand for beef in the US and China

Reuters
Reuters

06 March, 2026

World food prices rebound in February, United Nations’ FAO says
Image: Getty Images

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The FAO Food Price Index rose in February, reversing a five-month decline, driven by increases in cereal, meat, and vegetable oil prices. Wheat prices rose due to weather and logistical issues. Sugar prices fell to a multi-year low. The FAO also forecasts record global cereal production for 2025 and increased world cereal stocks by the close of the 2026 season.

World food prices rose in February after falling for five straight months, as higher cereal, meat and most vegetable oil prices outweighed declines in cheese and sugar, the United Nations’ Food and Agriculture Organization said on Friday.

The FAO Food Price Index, which tracks monthly changes in a basket of internationally traded food commodities, averaged 125.3 points in February, up from a revised 124.2 in January.

The index was still 1 per cent below its value a year earlier and nearly 22 per cent below its March 2022 peak, reached after the start of the war in Ukraine.

Read more-Dubai sugar giant says operations normal amid Hormuz tensions

Average cereal prices increased 1.1 per cent from the previous month, with wheat prices rising 1.8 per cent due to weather risks in Europe and the US as well as continuing logistical disruptions within the Russian Federation and the wider Black Sea region. They were still 3.5 per cent below their level of a year earlier.

Rice prices edged up 0.4 per cent, supported by sustained demand for basmati and Japonica varieties.

Vegetable oil prices climbed 3.3 per cent, reaching their highest level since June 2022. Palm oil prices increased due to strong global demand and lower output in Southeast Asia, while soyoil prices rose on expected policy support for biofuel in the US.

Meat prices rose 0.8 per cent from January, led by record prices for sheep meat and stronger demand for beef in the US and China.

Dairy prices fell 1.2 per cent, extending a months-long decline, mainly due to lower cheese prices in the European Union. However, skimmed and whole milk powder and butter prices increased on strong demand amid tight supply in key exporters.

Sugar prices dropped 4.1 per cent to their lowest since October 2020, reflecting expectations of ample global supply, including record output in the US.

In a separate report, the FAO slightly raised its 2025 global cereal production forecast to a record 3.029 billion metric tonnes, reflecting minor adjustments, mainly to maize and rice estimates. It would be 5.6 per cent higher year-on-year.

World cereal stocks by the close of the 2026 season are also set to rise, with the global stocks-to-use ratio seen at a comfortable 31.9 per cent.

UAE weather update: Cloudy conditions, strong winds forecast from March 6-10

Weather conditions on Saturday will remain partly cloudy with cloud cover at times, particularly over western and coastal areas

Gulf Business
Gulf Business

06 March, 2026

UAE weather update: Cloudy conditions, strong winds forecast from March 6-10
Image: Getty Images/ For illustrative purposes

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The UAE forecast from March 6-10 predicts partly cloudy conditions with potential light rainfall, especially in western and coastal areas. Expect strong, northwesterly winds reaching up to 40 km/h causing blowing dust, and rough seas initially. Temperatures will slightly rise before decreasing later in the week, particularly in northern regions. Humidity and mist are also possible.

The UAE is expected to see partly cloudy conditions, strong winds and a chance of light rainfall in some areas over the coming days, the National Centre of Meteorology (NCM) said in a forecast covering March 6 to March 10.

On Friday, the weather will be fair to partly cloudy, becoming cloudy at times over western areas. Northwesterly winds will be light to moderate, freshening at times and reaching up to 40 km per hour, which could lead to blowing dust. Seas are forecast to be rough in the Arabian Gulf and moderate, becoming rough at times, in the Oman Sea.

Conditions on Saturday will remain partly cloudy with cloud cover at times, particularly over western and coastal areas, alongside a gradual and slight rise in temperatures.

Northwesterly winds will be light to moderate, freshening at times with speeds of 10 to 25 km per hour and reaching up to 35km per hour. Seas in the Arabian Gulf will be rough in the morning before becoming moderate to slight later in the day, while the Oman Sea will remain slight.

Humidity is expected to increase on Sunday, with a probability of mist forming over some internal areas in the morning. Skies will be partly cloudy to cloudy, with a chance of light rainfall over some western areas, coastal regions and islands.

Winds will shift from northwesterly to northeasterly and may reach up to 40km per hour. Seas will be moderate to slight in the Arabian Gulf and slight in the Oman Sea.

Partly cloudy weather on Monday in UAE: NCM

On Monday, weather conditions will be partly cloudy to cloudy at times with a chance of rainfall over some western areas, coastal regions and islands. Southeasterly to northeasterly winds will be light to moderate, reaching up to 30 km per hour.

Seas will remain slight in both the Arabian Gulf and the Oman Sea.

Temperatures are expected to decrease on Tuesday, particularly in northern areas, as partly cloudy to cloudy conditions continue with a chance of rainfall over some western and northern areas. Northwesterly to northeasterly winds may freshen at times and reach up to 40 km per hour.

Seas will be slight to moderate in the Arabian Gulf and slight in the Oman Sea.

Abu Dhabi’s 2PointZero completes 60.8% acquisition of Italy’s ISEM Packaging

The acquisition marks 2PointZero’s entry into packaging as its sixth consumer-focused vertical and complements its existing investments in sectors such as beauty and apparel

Gulf Business
Gulf Business

06 March, 2026

Abu Dhabi’s 2PointZero completes 60.8% acquisition of Italy’s ISEM Packaging
Image: Supplied

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2PointZero Group acquired a 60.8% stake in Italy's ISEM Packaging Group for $192m, entering the packaging sector. Peninsula Capital retains the remaining stake. 2PointZero aims to support ISEM's international expansion and implement AI. The deal provides ISEM with capital and global reach for accelerated growth, maintaining its focus on luxury clients.

Abu Dhabi-based investment firm 2PointZero Group said it has completed the acquisition of a 60.8 per cent stake in Italy’s ISEM Packaging Group for Dhs704m ($192m), expanding into the global packaging sector.

The deal was completed through a combination of primary and secondary capital, the company said. Private equity firm Peninsula Capital and other minority investors will retain the remaining 39.2 per cent stake in the business.

The acquisition marks 2PointZero’s entry into packaging as its sixth consumer-focused vertical and complements its existing investments in sectors such as beauty and apparel.

ISEM, founded in 1949 and headquartered in Bologna, produces packaging products including rigid boxes, folding cases, silk paper and dust bags for global luxury and cosmetics brands such as LVMH, Gucci, L’Oréal and Coty.

The company operates 11 manufacturing plants with a combined industrial footprint of more than 100,000 square metres.

2PointZero Group’s CEO says the company plans to support ISEM’s international expansion

“The completion of this transaction marks an important step in advancing our global growth ambitions and establishing a scalable platform in the packaging industry,” said Samia Bouazza, chief executive of 2PointZero Group.

Bouazza said the company plans to support ISEM’s international expansion and deploy artificial intelligence and digital technologies across the business to improve operations.

Borja Prado, founding partner at Peninsula Capital, said the investment would provide ISEM with capital and global reach to accelerate growth.

“This investment will provide ISEM with the capital, global reach and strategic support to further accelerate its expansion,” Prado said.

Francesco Pintucci, chief executive of ISEM Packaging Group, said the deal would allow the company to expand while maintaining its focus on craftsmanship and relationships with luxury clients.

“With 2PointZero and Peninsula, ISEM has the platform to take that offer global,” he said.

Law firm Hogan Lovells advised both 2PointZero and Peninsula Capital on the transaction, while Legance and Van Campen Liem advised Peninsula Capital on structuring and reinvestment matters. Gatti Pavesi Bianchi Ludovici and Herbert Smith Freehills advised on the sell-side.

Read: UAE’s 2PointZero unit acquires stake in US wearable tech firm Whoop

French IT firm Atos meets revenue target amid restructuring push

Atos expects 2026 to be a “year of stabilisation” with a target of positive organic revenue growth

Reuters
Reuters

06 March, 2026

French IT firm Atos meets revenue target amid restructuring push
Image: Getty Images

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Atos reported €8bn revenue, meeting targets after restructuring, which included a 19% headcount reduction. Core Atos revenue declined, but Eviden grew. A €10.7bn backlog signals future stability. Atos aims for positive growth by 2026, 5-7% annual growth by 2028, a 10% operating margin, and reduced debt to achieve an investment-grade credit rating.

French IT services company Atos reported full-year revenue slightly above 8 billion euros ($9.3bn) on Friday, meeting its target and reflecting progress in its turnaround following significant financial restructuring.

The company slashed its headcount by 19 per cent to 63,193 employees as part of its “Genesis” restructuring programme aimed at restoring profitability after years of turmoil.

Revenue in the core Atos business unit declined 16.2 per cent organically to 6.96 billion euros despite winning a notable cybersecurity contract with the European Commission during the year.

Sales in the Eviden division grew 6.7 per cent to 1.04 billion euros, driven by the delivery of the Jupiter supercomputer in Germany.

Atos had a backlog of 10.7 billion euros at the end of December, representing 1.3 years of revenue, signalling a solid pipeline of contracted work that underpins its confidence in the recovery path.

Atos expects 2026 to be a “year of stabilisation” with a target of positive organic revenue growth, and potential downside limited to a 5 per cent decline in a challenging market. It expects to accelerate growth in 2027-2028, aiming for 5-7 per cent annual revenue growth and a 10 per cent operating margin by 2028.

Atos also aims to reduce its leverage ratio to net debt less than 1.5 times its operating income by 2028, as it pursues an investment-grade credit rating.

CBSE cancels class 10 exams in UAE, Gulf; class 12 paper postponed

The decision applies to CBSE schools in the UAE, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and Iran

Rajiv Pillai
Rajiv Pillai

06 March, 2026

CBSE cancels class 10 exams in UAE, Gulf; class 12 paper postponed
Image credit: Getty Images

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CBSE cancelled Class 10 board exams in UAE, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and Iran due to regional concerns and student safety. Exams scheduled March 7-11, 2026, and earlier postponed papers are scrapped. Thousands of students are affected. Class 12 exam on March 7 is postponed. Result declaration method will be announced later.

India’s Central Board of Secondary Education (CBSE) has cancelled Class 10 board examinations for students studying in CBSE-affiliated schools across the UAE and several Gulf countries, following a review of the evolving regional situation.

The decision applies to CBSE schools in the UAE, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and Iran. Examinations that had been scheduled between March 7 and March 11, 2026, have been cancelled, while earlier papers that were already postponed on March 2, March 5 and March 6 have also been formally scrapped.

In an official communication to school principals in the region, the board said the move was taken in light of ongoing regional developments and concerns about student safety. The board added that the method for declaring Class 10 results for affected students will be announced at a later stage.

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The disruption affects thousands of Indian expatriate students enrolled in CBSE-affiliated schools across the Gulf. The CBSE system is one of the most widely followed curricula in the region, particularly in the UAE where Indian community schools form a significant share of the private education sector.

Alongside the Class 10 decision, CBSE also confirmed that the Class 12 examination scheduled for March 7 has been postponed, with revised dates to be announced later. Students preparing for the remaining Class 12 papers have been advised to remain in close contact with their schools and monitor official CBSE notifications for further updates.

The announcement comes after several exam papers earlier in the week were first postponed as authorities assessed the situation across parts of the Middle East. Education authorities and schools across the Gulf are now adjusting academic schedules and assessment plans while awaiting further guidance from the Indian board

Saudi stocks close higher as main index gains 83 points

The Saudi Parallel Market Index (Nomu) also recorded gains, climbing 114.45 points

Rajiv Pillai
Rajiv Pillai

06 March, 2026

Saudi stocks close higher as main index gains 83 points
Image: Getty Images

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Saudi Arabia's main stock index and Nomu market closed higher with significant turnover. In contrast, UAE equities, particularly in Dubai and Abu Dhabi, fell sharply. This decline followed reopening after a two-day halt due to Iran's recent missile and drone attacks.

Saudi Arabia’s main stock index closed higher on the day, rising 83.63 points to end trading at 10,776.32. Total market turnover reached SAR5.2bn.

The Saudi Parallel Market Index (Nomu) also recorded gains, climbing 114.45 points to close at 22,496.98. Trading on Nomu amounted to SAR17m, with more than 2.3 million shares changing hands, Saudi Press Agency reported.

However, UAE equities fell further. Dubai’s main ⁠share index closed 1.3 per cent lower, while Abu Dhabi’s index ⁠fell 2.2 per cent.

Stocks in Dubai and Abu Dhabi tumbled on Wednesday as markets reopened after a two-day halt following Iran’s unprecedented wave of missile and drone attacks on the Gulf nation on Sunday.

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