Saudi Arabia plans to allocate 2 billion riyals, that is $533.3 million, to import agriculture products and to secure food supplies of the country
Country representatives fear disruption of supply chains due to coronavirus pandemic.
Saudi Arabia will purchase goods via its Agricultural Development Fund, and imported products will include mainly rice, sugar, soybeans and yellow corn. Other goods will be added based on the progress and needs on Saudi Arabia market.
“This initiative aims to meet priorities and economic needs to address the impacts of the novel coronavirus,” the Saudi Arabia government said in its statement. During last years, the country has became dependent on grain imports as it abandoned its plans for food self-sufficiency in 2008.
Problems with food supply are slowly escalating, especially the U.S. is facing meat shortages. Yet, according to Reuters, export of American pork keeps growing, especially to China. Some food chains in the U.S. have implemented rationing on meat purchase as demand for meat grows, yet meat processing capacities significantly dropped.