SALIC supplies 30% of the Saudi's wheat needs in 2022

SALIC supplies 30% of the Saudi's wheat needs in 2022
30 March 2023

Saudi Press Agency reports, The Saudi Agricultural and Livestock Investment Company (SALIC),  fully owned by the Public Investment Fund, announced on Tuesday, March 28, 2023, that it completed the supply of more than 1.2 million tonnes of strategic commodities in 2022. It also directly supplied 720,000 tonnes of wheat, which represents 20% of the Kingdom's annual purchase, after having won tenders launched by the General Food Security Authority, as part of a programme to encourage and support Saudi investors abroad in diversifying sources of wheat, to enhance food security in the Kingdom.

According to SALIC, it indirectly supplied more than 300,000 tonnes of wheat, 120,000 tonnes of barley, 70,000 tonnes of soybeans, 12,000 tonnes of red meat, and 11,000 tonnes of rice through its subsidiary companies in various continents.

SALIC is moving forward to achieve its strategic goals to contribute to achieving the Kingdom's food security strategy by increasing its qualitative investments locally and globally. It has achieved several accomplishments during the year 2022, including completing the acquisition of 35.43% of Olam Agricultural Holding and acquiring 100% of the Australian lamb company ALC along with Minerva Foods. It also acquired 9.2% of LT Foods, which trades in Basmati rice.

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