food commodities for the food security system
The Saudi Agriculture and Livestock Investment Company (SALIC) was established by Royal Decree No. M / 22 dated 4/18/1430 AH corresponding to 4/14/2009 AD as a Saudi joint-stock company owned by the Public Investment Fund. Its doctrine stipulates that all its investment activities should be both inside and outside the Kingdom of Saudi Arabia in order to achieve a food security strategy by providing food products and stabilizing their prices. This is done through establishing subsidiary companies or through national, regional, and international partnerships.
SALIC began its investments in 2012 AD with various international companies specialized in the fields of agriculture and the trading of grains, rice, and meat in various countries such as Ukraine, Canada, India, Australia, Brazil, and The United Kingdom. In the year 2020 AD during the Coronavirus pandemic, SALIC established The National Grain Company through a strategic partnership with The National Shipping Company (Bahri) to establish the Yanbu grain terminal. The first shipment of wheat was received as a result of its investments in Ukraine with 64 thousand tons of high-quality wheat, in addition to supplying other basic commodities such as eggs, onions, and red meat, all while contributing to the stability of their prices.
In the future, SALIC aims to supply greater quantities of commodities through its foreign investments and increase the operational efficiency of existing investments, in addition to building on existing relationships with leading international companies in the field of grains and food processing. The company also intends to expand its local and international investments according to its strategy, including investments in agricultural technologies that aim to rationalize water usage, raise production efficiency, and preserve the environment.