The long-term outlook of the Saudi food and agriculture sector remains strong with capacity expansions at major food companies Savola and Almarai aiming to capture this growth, a report said.
“We remain Overweight on Savola
Saudi Arabia-based Savola Group has posted a net profit of SR308 million ($82.12 million) in the third quarter of the year, marking a nine per cent growth against the same period last year, said a report.
This raised the net profitability
Major challenges lie ahead for global food industry as increasing urbanisation shrinks rural labour forces and non-renewable resources become more scarce, said an expert ahead of a major food expo in Abu Dhabi.
“As the world’s population i