Page 171 - CW E-Magazine (3-10-2023)

News from Abroad

GROWTH ENABLERS

GPCA’s Agri-Nutrients Conference focuses on sustain-

able practices, farmer education and collaboration

Adopting sustainable practices, edu- healthy competition continues to be the
cating the farming community, and driving force behind innovation and pro-
fostering collaboration across the value gress, and cooperation among stakehol-
chain will be at the heart of shaping a sus- ders contributes to “the greater good”.
tainable future for agri-nutrients between
now and 2050, according to speakers at Mr. Abdulrahman Shamsaddin, CEO,
the 13th edition of the Gulf Petrochemi- SABIC Agri-Nutrients, presented the
cals and Chemicals Association (GPCA) keynote address, in which he described
Agri-Nutrients Conference. SABIC’s 26 years of agri-nutrient inno-
vation.
The conference was held recently in
Doha, Qatar, under the theme “Sustain- In a plenary session, Prof. Robert
able transformation in practice – The food production and contribute to food Stavins, AJ Meyer Professor of Energy
future of agri-nutrients”. security, speakers said. and Economic Development, Harvard
University, discussed the challenges
According to GPCA analysis, in Mr. Abdulrahman Al-Suwaidi, CEO, and opportunities of climate change and
2022 GCC (Gulf Cooperation Council) QAFCO, in his opening remarks, high- energy transition.
agri-nutrient production amounted to lighted the essential role of agri-nutrients.
34.6-million metric tons (mMT), which His remarks were followed by an open- Others experts who spoke at the event
represents 16.2% of global production. ing keynote entitled ‘Looking ahead – included Mr. Yasser A. Rahim Alabbasi,
As global demand for agri-nutrients Envisioning the world of agri-nutrients CEO, GPIC and Board Member, Inter-
continues to increase exponentially, in 2050’ by Mr. Federico Zardi, CEO, national Fertilizer Association (IFA),
the agri-nutrient industry must develop Casale, in which he called upon the and Mr. John Baffes, Senior Economist,
accurate, effective and practically waste- agri-nutrient value chain to engage in “a Macroeconomics, Trade & Investment,
free agri-nutrients to help support global cooperative competitive scenario” where World Bank Group.
GLOBAL RANKING FOR 2022

BASF remains on top of ICIS’ ‘Global Top 100 Chemical

Companies’ list

German chemicals giant BASF is Ineos with $51.9-bn. While most chemi- ICIS Chemical Business. “2022 will go
again the world’s largest chemical com- cal companies generated sales growth down as one of the most difficult years
pany, with sales of $93.7-bn in 2022, in 2022 on higher oil and natural gas for chemical companies since the Global
up 11.1% versus 2021, according to the feedstock costs, margins were squeezed, Financial Crisis, as it was overshadowed
‘ICIS Top 100 Chemical Companies’, particularly in the back half of the year. by war and looming economic recession,
a global listing of the leading producers although for some, the impact of these
of chemicals worldwide ranked by 2022 “After a robust H1 on tailwinds from seismic events did not materialise until
sales. the pandemic recovery, by Q3 deterio- late in the year,” said Mr. Nigel Davis,
rating macroeconomic conditions and a ICIS Insight Editor.
Rounding out the Top 5 are China- shift in consumer spending away from
based Sinopec with $78.2-bn in chemi- durables led to an unprecedented stretch The ICIS list includes sales as well as
cal sales, followed by US-based Dow in of destocking continuing well into 2023 operating profits, net income, total assets,
third with $56.9-bn, Saudi Arabia-based with impacts still being felt today,” said capital expenditures and R&D spending
SABIC with $52.9-bn and UK-based Mr. Joseph Chang, Global Editor of for the world’s top producers.

Chemical Weekly October 3, 2023 171

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