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FINANCIAL NEWS
Saudi Grain Silos 2010’s surplus hits USD245.6m
02 Dec 2011
(MENAFN) The General Organization for Grain Silos and Flourmills (GOGSF) said that last year, the organization’s surplus surged 30 percent over 2009’s USD189 million to reach USD245.6 million, reported Arab News.
The organization added that flour sales in 2010 hiked 128 percent to 2.18 million tons, compared with 0.95 million tons in 1990, with an average annual growth of 6.4 percent.
It also said that GOGSF’s fodder output reached 301,000 tons in 2010 with an increase of 51,000 tons compared to 2009’s output.
It is worth noting that GOGSF is establishing three storage facilities at King Abdullah Economic City in Rabigh, Yanbu Commercial Port and Dhuba Port with a total capacity of 360,000 tons.
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