Saudi Arabia announces SR2 billion plan to support food sector

Saudi Arabia foods and vegetables market

The Saudi Agriculture Fund has announced an action plan of SR2 billion ($533.33 million) to support local food security and production during Coronavirus crisis. 

KSA announces $533m action plan to support food industry

It has urged companies to take advantage of the initiatives and measures, which come days before the start of Ramadan.

The Ministry of Environment, Water, and Agriculture is providing SR180 million during April as direct support for small-scale livestock owners, fish farming projects, and poultry producers.

“The fund calls on small and medium enterprises to apply for operating loans to support their production,” said ministry spokesman Abdullah Abalkhail. “The fund has received 15 funding requests so far, nine of which have preliminary approval totaling SR60 million.”

He added that some “negative practices” in the market during the past had given the illusion that there was a low supply of eggs in the country. “However, the Kingdom has achieved self-sufficiency of more than 116 percent in egg production. Local producers will also raise their production capacity by 24 percent during the coming period, in addition to expected imports from five different countries.” 

Saudi Arabia’s 28 land, sea, and air exit and entry points continue to release imports of agricultural and animal products. A total of 183,000 tons of agricultural products, in addition to nearly 100,000 heads of livestock from five countries, have been released since the beginning of April.

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