Saturday, Jul 23, 2011
BEIRUT (Zawya Dow Jones)--The Saudi ministry of finance has concluded a contract to import 2.7 million tons of barley that will be delivered within the coming two months, Jeddah-based Okaz daily reports Saturday citing an official.
And the ministry will sign a further contract for an additional quantity of 3.5 million tons to cover the country's needs in the fourth quarter, as well as to maintain sufficient local stocks of the grain, an unnamed official at finance ministry told the newspaper.
Earlier this week, the Saudi interior minister warned traders that they will be subject to harsh penalties if they hoard barley, which is in short supply as the holy month of Ramadan is drawing near. Meanwhile, a royal decision was also issued ordering a 50% increase in government subsidy for livestock fodder.
Newspaper website: http://www.okaz.com.sa/new/Issues/20110723/Con20110723435597.htm
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
23-07-11 0844GMT
