Almuneef signs SAR 7.6 mln contract to buy wheat seeds from Al-Jouf Agricultural

Logo of Almuneef Company for Trade, Industry, Agriculture and Contracting (ALMUNEEF) 

AlMuneef Co. For Trade, Industry, Agriculture and Contracting Almuneef Co. signed, on Sept. 14, a three-month contract to purchase 3,000 tons of Yecora Rojo 2023 first-generation wheat seeds from Al-Jouf Agricultural Development Co.

In a statement to Tadawul, Almuneef pointed out that the contract’s value is SAR 7.6 million, including value-added tax (VAT), other taxes, fees and costs resulting from the deal.

The financial impact of the transaction is expected to reflect on the company’s results by the end of Q4 2023.

The deal was concluded within the framework of Almuneef’s annual plans to cover the local market’s wheat season needs across its corporate and farmer clients, the statement added.