The US Department of Agriculture noted an increase in wheat production in Saudi Arabia

Published Jan 16, 2024

Tridge summary

The US Department of Agriculture has increased its estimate of the wheat harvest in Saudi Arabia for the current season to 1.2 million tons, which is double the forecast made in December. This significant increase in production is attributed to the country's main food security department offering local farmers high prices, leading to a rise in wheat cultivation and improved food security. As a result, Saudi Arabia's wheat import forecast has been lowered to 4.7 million tons, and the country has reduced wheat purchases from Russia by 45% in the first half of the current agricultural year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Moscow. January 16. INTERFAX.RU - In a January review, the US Department of Agriculture increased its estimate of the wheat harvest in Saudi Arabia in the current season (July 2023 - June 2024) to 1.2 million tons. This is double the forecast made in December. The new forecast is also 1.9 times last season's production and 3.2 times the five-year average. According to the Ministry of Agriculture, the significant increase in the harvest is due to the policy of the country's main food security department, which offers local farmers high prices. In recent years, Saudi Arabia has increased procurement prices for domestically grown wheat to boost production and improve food security, the review noted. In the coming years, if prices remain high and competitive with alfalfa prices, the wheat harvest will continue to be strong. The area under wheat in the current season is estimated at 200 thousand hectares, which is 3.3 times higher than the previous estimate, the average for the last ...

Source: Interfax