SALIC imports 355,000 tons of wheat through its overseas investments

SALIC imports 355,000 tons of wheat through its overseas investments.

SALIC indicated that the supply of large quantities of wheat will come through its investments diversified across Ukraine, Canada, and Australia in six shipments starting this year from May until December in accordance with its quality standards for imported wheat. SALIC wholly owns the Ukrainian company Continental Farmers Group through which it manages 195,000 hectares of agricultural in western Ukraine, as well as owning the Australian company Merredin Farms which manages 211,000 hectares of agricultural land in Australia, along with owning 75% of the Canadian company G3 that specializes in the trading and handling of grains in partnership with the American company Bunge.

It is worth noting that The Saudi Agriculture and Livestock Investment Company (SALIC) is wholly-owned by the Public Investment Fund and aims to contribute towards achieving food security in the Kingdom through local and foreign investments. To that end, last year, SALIC received through the Jeddah Islamic Port its first shipment of 60,000 tons of wheat from its investments in the Republic of Ukraine.