Food Security Authority Completes Procedures for 4th Batch of Imported Wheat
The General Food Security Authority has completed the procedures for awarding the fourth and final batch of imported wheat for this year (2023), totaling 1,353,000 tons. It will be sourced from the European Union, North and South America, Australia, and the Black Sea region.
The Governor of the Authority, Ahmed bin Abdul Aziz Al Faris, explained that this batch’s delivery date is the next fiscal year. This is part of efforts to enhance the strategic wheat reserve, maintain safe levels, and meet the needs of milling companies.
The fourth batch will arrive between February and May 2024, with a total of 22 ships. 9 ships will go to Jeddah Islamic Port (559,000 tons), 7 ships to Yanbu Commercial Port (431,000 tons), 5 ships to King Abdulaziz Port in Dammam (308,000 tons). Moreover, one ship will go to Jazan Port (55,000 tons). The There was competition between 13 qualified, specialized grain trading companies.
However, the 5 chosen companies had the lowest bids meeting the specifications. The Authority contracted a total of 4.7 million tons of wheat this year, scheduled to arrive by the end of May 2024, including 710,000 tons awarded to Saudi investors abroad.
Moreover, the speakers of the Taif Investment Forum considered the food-security related sectors vital to develop the agriculture.
Importance of Food-Security Related Sectors
It is also vital to enhance the process of marketing agricultural products. This is by providing a safe investment climate to highlight this sector’s meaningful economic returns.
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