Investing in Smarter Agriculture: Cyprus Charts a Path Toward a Resilient Primary Sector

Advancing a Sustainable, Competitive Future

Cyprus is set to transform its primary sector through an ambitious Strategic Plan for the Common Agricultural Policy (CAP) 2023-2027. With an allocation exceeding €450 million for rural development, this initiative underscores the nation’s commitment to creating a sustainable, future-proof agriculture industry built on smart technologies and precision farming techniques.

Embracing Smart Agriculture in Field Crops

Agriculture Minister Maria Panayiotou outlined the plan’s core vision during a training session at the University of Cyprus focused on smart agriculture in field crops. In collaboration with the Agricultural University of Athens, further training sessions will expand the scope by addressing advanced applications in greenhouse management and livestock farming.

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Precision Farming to Optimize Resources

Minister Panayiotou emphasized that smart agriculture is the sole viable strategy for achieving increased productivity with fewer resources. Amid challenges such as water scarcity, rising production costs, and climate variability, the integration of technologies like remote sensing, GPS, robotics, and drones is pivotal. These innovations enable targeted use of inputs—water, nutrients, and plant protection measures—thus allowing farmers to harness real-time data for optimal decision-making.

Overcoming Challenges Through Innovation

Despite the technological advances already making inroads into agricultural practices, challenges remain. High equipment costs, the prevalence of small, fragmented landholdings, and the need for digital skill development among farmers pose significant hurdles. Nonetheless, the government remains committed to bolstering the agri-food sector by incentivizing research, innovation, and modern farm management practices.

A Strategic Investment in the Future

The strategic plan’s modernization efforts include subsidies for state-of-the-art agro-meteorological stations, smart water meters, robotic weed control systems, and AI-driven plant protection tools. Additionally, an investment package of €67.5 million will support large-scale agricultural projects, with special grants aimed at fostering innovations among young farmers.

Collaboration for a Resilient Sector

Drawing inspiration from leading models such as the Dutch agricultural framework, Cyprus is uniting government, industry, and academia to drive forward a more resilient, efficient, and digitally empowered agricultural sector. By embracing these transformative technologies, the island nation is poised to secure a competitive edge in the global market while ensuring food adequacy and environmental stewardship.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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