Saudi to buy 700,000 tons of wheat annually from local farmers

09/07/2018 Argaam

 

The Saudi Grains Organization (SAGO) has approved the purchase of a maximum of 700,000 tons of wheat per year from local farmers for five years, Reuters reported on Sunday, citing a statement published by Saudi Press Agency.

 

"Wheat prices for the coming agricultural season, 2018-2019, will be similar to the organisation's global import prices or at SAR 1,250 ($333) per tonne, whichever is higher. Prices will be reviewed after two agricultural seasons," the statement said.

 

Farmers will be able to grow wheat on a maximum of 50 hectares of land, it added.

 

SAGO imports the Kingdom's entire wheat supply of about 3.5 million tons a year.

 

Demand for wheat is expected to rise by 3.2 percent per year to reach 4.5 million tons by 2025, due to growth in population.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.