Saudi Arabia to boost wheat stocks
Al Walid Bin Abdul Karim Khuraiji, the Director of the Saudi General Organization for Grain Silos and Flour Mills, has stated that his organization is currently undertaking new expansion projects in order to increase the stock of wheat in the Kingdom. These plans are aimed at covering the needs of a full year instead of a six month period now.
He explained during a meeting, convened by the National Commission on Agricultural Council that the organization maintains a strategic stock which is estimated at 1.4 million tons in addition to contracts to supply new supplies until the end of April 2011 estimated at 700,000 tons. According to him, the organization is considering the implementation of a new silo storage projects in the port of King Abdullah Economic City in Rabigh, in Yanbu Commercial Port and the port of Duba. the capacity of each one of them will be around 120,000 tons in the framework of the institution's expansion plans to meet the expected increase in the import of wheat.