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SALIC supplies 30% of the Kingdom’s wheat needs in 2022

The Saudi Agricultural Investment Company  SALIC announced that it will complete the supply of more than 1.2 million tons of strategic commodities in 2022.

 

It directly supplied 720,000 tons of wheat, representing 20% of the kingdom’s annual purchases.

 

This was after winning the tenders put forward by the Public Authority for Food Security.

 

The Authority supports Saudi investors abroad through programs to diversify sources of wheat purchase to enhance its food security

 

Today, SALIC is wholly owned by the Public Investment Fund.

 

SALIC stated that it had supplied, indirectly, through its subsidiaries in various continents, more than 300,000 tons of wheat.

 

It received 120,000 tons of barley, 70,000 tons of soybeans, 12,000 tons of red meat, and 11,000 tons of rice.

 

Sulaiman Al-Rumaih, CEO of SALIC, said: “We are proud to supply 30% of the Kingdom’s need for wheat through direct and indirect contracts”.

 

He added that these efforts come within the company’s contributions to achieving the national goals for food security.

 

He indicated that one of the supply contracts amounting to 60,000 tons of barley is a precedent in the field of food security locally.

SALIC is moving forward toward achieving its strategic objectives to contribute to achieving the food security strategy in the Kingdom.

 

It has continued the journey of expanding and diversifying its foreign investments during the year 2022  including the completion of the acquisition of 35.43% of Olam Agricultural Holding Company.

 

SALIC also fully acquired, along with Minerva Foods, the Australian mutton Company, LLC.

 

It also acquired 9.2% of the Indian company LT Foods, which specializes in the field of basmati rice.

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