RIYADH: Wheat imports into Saudi Arabia by Saudi Agricultural and Livestock Investment Co. increased by almost sixfold in 2021 in line with the Kingdom’s food security plan.
The firm, also known as SALIC, brought in 355,000 tons of wheat from Ukraine, Canada, and Australia in 2021, equivalent to 10 percent of the country’s needs.
This is a jump from the total of 60,000 tons of wheat it shipped from Ukraine in 2020, as the firm increased its network of suppliers.
SALIC, wholly owned by the Public Investment Fund, was created by Royal Decree in 2012 to secure a food supply for Saudis and stabilize prices through a network of national, regional, and international partnerships.
SALIC’s Vice President of Corporate Communication Mubarak Al-Dujain told Arab News: “The main step for the company is more investments to achieve the food security strategy.”
The firm’s food plan includes private sector involvement through partnerships and joint local investments, Al-Dujain said. The aim is also to introduce modern technologies to this sector and establish joint ventures with global industry leaders.
The company invests in a total of 11 food products, four in Saudi Arabia and seven are overseas, Brazil, Canada, Ukraine and Australia.