“SALIC” Supply 30% of the Kingdom’s wheat needs in 2022

The Saudi Agricultural and Livestock Investment Company (SALIC), which is fully owned by the Public Investment Fund, announced Today, Tuesday, March 28th, 2023, that it has completed the supply of more than 1.5 million tons of strategic commodities in 2022. SALIC directly supplied 720,000 tons of wheat which represents 20% of the Kingdom’s annual purchase after winning tenders launched by the General Food Security Authority as part of a program to encourage and support Saudi investors abroad in diversifying sources of wheat purchasing to enhance food security in the Kingdom. SALIC also mentioned that it indirectly supplied more than 600,000 tons of wheat, 120,000 tons of barley, 70,000 tons of soybeans, 13,000 tons of red meat, and 11,000 tons of rice, through its subsidiary companies in various continents.

On this occasion, the Group CEO of SALIC, Eng. Sulaiman bin Abdulrahman Al-Rumaih, said: “We are proud to supply 30% of the Kingdom’s wheat needs through direct and indirect contracts, in addition to a number of other essential food commodities. These efforts contribute to the company’s goal of achieving national objectives for food security by providing strategic commodities from SALIC’s investments in countries with competitive advantages around the world.”

Al-Rumaih added that” “one of their supply contracts for 60,000 tons of barley is a precedent in the field of local food security, as efforts between the government and private sectors have been integrated across all stages of the supply chain in line with the goals of Saudi Arabia’s Vision 2030 to ensure food security. SALIC has contracted to supply barley for Mansour Al Mosaid company, which was funded by the Agricultural Development Fund, and the shipment was delivered from Australia through one of Bahri’s vessels.

It is noteworthy that “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 consecutive accomplishments during the year 2022, including completing the acquisition deal 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 specializes in Basmati rice.