Saudi SOE Partners with Bunge to Buy Stake in Canadian Grain Handler
Saudi Arabia and its neighbors in the Gulf heavily rely on imported food. 80% to 90% of their food is imported. The kingdom’s neighbor, Qatar Investment Authority (QIA), created a unit to invest in farmland and other food opportunities called Hassad Food. Saudi Arabia has done the same. In 2011, late Saudi King Abdullah formed Saudi Agricultural and Livestock Investment Co (SALIC) to secure food supplies for the kingdom.
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