FINANCIAL NEWS

Saudi imports of food stand at 15 pct of total imports

05 Sep 2013

(MENAFN) Saudi Arabia is considered the largest consumer market for food and agricultural commodities as its food imports form 15 percent of Saudi total imports, according to Gulf Daily News.

The kingdom’s consumption of domestic food is expected to stand at 9.75 percent while the mass grocery retail transactions by 11.7 percent by 2014.

Saudi agricultural imports are expected to boost up to 76 percent over the coming three years.

Investments in domestic agriculture projects and food security programs reached USD12.3 million while the kingdom is making effort to meet people’s demand on food.

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