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FINANCIAL NEWS
Saudi July’s food imports up 3.2%
09 Sep 2011
(MENAFN) The Saudi Port Authority in Riyadh said that since local demand for food surged before the start of the holy month of Ramadan, in July, the country’s purchase of foreign food rose 3.2 percent, reported Arabian Business.
The authority added that in the month, food imports recorded their highest levels since the beginning of the year, reaching 1.78 million tones compared with 1.72 million tones a year ago.
It also said that food imports in the year’s second half would be forecasted to increase as the Kingdom would import between 7 million and 7.5 million metric tones of barley in 2011.
It is worth noting that Saudi depends on food imports to feed its 27 million population.
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