July 25, 2022

Saudi Arabia to invest US$5 billion to boost poultry output

Saudi Arabia is planning to invest SAR 17 billion (~US$5 billion; SAR 1 = US$0.27) to boost domestic poultry output, as the country aims to achieve an 80% poultry meat self-sufficiency rate by 2025, the Saudi Press Agency reported.

Abdulrahman Al-Fadley, Saudi Arabia's Minister of Environment, Water, and Agriculture, said the ministry will ensure national food security by aiming for 1.3 million tonnes of broiler chickens annually, boost local output, and generate employment opportunities.

This action comes after a rise in poultry meat self-sufficiency from 45% in 2016 to 68% in 2022.

When cutting-edge technologies are applied, Al-Fadley said the agricultural development fund's financing for businesses looking to expand the poultry production industry can reach 70%.

In related news, Ibrahim Qassem, director-general of MEWA's Animal Resources Services, told CNBC Arabia that the total number of livestock projects in the Kingdom exceeded 980.

But Qassem said due to the prevailing global factors, which are reflected in the prices of livestock, the cost of feed increased by more than 90%.

The ARS had created a programme to look into and fight animal diseases, he said, cutting losses by 25%.

-      Saudi Press Agency