Saudi to sign farmland deals with Pakistan

Saudi investors will sign a number of farmland deals in Pakistan soon, mainly to grow rice and wheat, as part of a plan to secure food supplies for the kingdom, Al-Eqtisadiah daily reports Thursday.

The Saudi businessmen have already visited several farmlands in Pakistan and are currently in the process of signing some deals, the paper reports.

Earlier this year Pakistan offered to sell or lease 1 million acres of farmland to foreign investors looking for food securities.

Saudi Arabia imports about 1 million tonnes of rice a year, 90,000 tonnes of which come from Pakistan, the paper adds.