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Saudi Dairy Industry Produces 7 Million Liters Daily

A dairy aisle at a Saudi grocer. (SPA)
A dairy aisle at a Saudi grocer. (SPA)
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Saudi Dairy Industry Produces 7 Million Liters Daily

A dairy aisle at a Saudi grocer. (SPA)
A dairy aisle at a Saudi grocer. (SPA)

The Saudi dairy industry topped national food security products in terms of added value to domestic production, while dairy farm complexes are contributing to achieving self-sufficiency.

Many Saudi dairy products have been exported to foreign markets, competing with international products due to their higher quality and lower price.

Head of the National Committee for Dairy Producers at the Council of Saudi Chambers, Saleh al-Towayan, explained that by the end of 2020, production at 12 national companies reached 7 million liters with a daily filling capacity exceeding 18 million packages, including 35 products that meet local consumption needs.

Towayan said over 10,000 trucks transport and distribute products to 38,000 retail stores on a daily basis.

About 10,500 Saudis work in dairy products companies, while the dairy sector contributes $1.8 billion to the economy.

Saudi companies have expanded their production of dairy products and now 20 to 30 percent of their exports go to Gulf markets.

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Oil Nudges Up after Russia-Ukraine Tensions Escalate

A person walks past a working oil well in a residential neighbourhood in Signal Hill, California, US, November, 14, 2024. REUTERS/Mike Blake
A person walks past a working oil well in a residential neighbourhood in Signal Hill, California, US, November, 14, 2024. REUTERS/Mike Blake
TT
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Oil Nudges Up after Russia-Ukraine Tensions Escalate

A person walks past a working oil well in a residential neighbourhood in Signal Hill, California, US, November, 14, 2024. REUTERS/Mike Blake
A person walks past a working oil well in a residential neighbourhood in Signal Hill, California, US, November, 14, 2024. REUTERS/Mike Blake

Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets.
Brent crude futures gained 29 cents, or 0.4%, to $71.33 a barrel by 0502 GMT, while US West Texas Intermediate crude futures were at $67.20 a barrel, up 18 cents, or 0.3%.
Russia unleashed its largest air strike on Ukraine in almost three months on Sunday, causing severe damage to Ukraine's power system, reported Reuters.
In a significant reversal of Washington's policy in the Ukraine-Russia conflict, President Joe Biden's administration has allowed Ukraine to use the US-made weapons to strike deep into Russia, two US officials and a source familiar with the decision said on Sunday.
There was no immediate response from the Kremlin, which has warned that it would see a move to loosen the limits on Ukraine's use of US weapons as a major escalation.
"Biden allowing Ukraine to strike Russian forces around Kursk with long-range missiles might see a geopolitical bid come back into oil as it is an escalation of tensions there, in response to North Korean troops entering the fray," IG markets analyst Tony Sycamore said.
Saul Kavonic, an energy analyst at MST Marquee, said: "So far there has been little impact on Russian oil exports, but if Ukraine were to target more oil infrastructure that could see oil markets elevate further."
In Russia, at least three refineries have had to halt processing or cut runs due to heavy losses amid export curbs, rising crude prices and high borrowing costs, according to five industry sources.
Brent and WTI slid more than 3% last week on weak data from China and after the International Energy Agency forecasted that global oil supply will exceed demand by more than 1 million barrels per day in 2025 even if cuts remain in place from OPEC+.
China's refinery throughput fell 4.6% in October from last year and as the country's factory output growth slowed last month, government data showed on Friday.
Investors also fretted over the pace and extent of interest rate cuts by the US Federal Reserve that has created uncertainty in global financial markets.
In the US, the number of operating oil rigs fell by one to 478 last week, the lowest since the week to July 19, Baker Hughes data showed.