The local Saudi market is witnessing a growth in commercial activity and an increase in demand for food and consumer goods, informed sources told Asharq Al-Awsat.
The hike in demand coincides with the advent of Islam’s holy month of fasting, Ramadan.
For Saudi merchants and importers, Ramadan is one of the most important seasons for trade.
According to sources, the Ukraine war did not record any negative repercussions on the local market or on supplies in the Kingdom. This is due to Saudi Arabia's experience in dealing with crises that sweep the world.
When touring several sales outlets, buyers can easily spot the clear spread of promotional offers on food and consumer goods. Ramadan offers come in various forms to attract local consumers.
Saudi Arabia’s Ministry of Environment, Water, and Agriculture had confirmed earlier the availability of commodities and the safety of agricultural, animal, and food supply chains. The ministry said the Kingdom achieved high sufficiency rates thanks to the multiplicity of import sources globally.
Muhammad Al-Shaalan, Chairman of the Board of Directors of the Abdul Rahman Al Shaalan Sons Trading Co., told Asharq Al-Awsat that there are two main factors to control the situation in the local market.
The first factor relies on the importing merchant’s success in providing the product from the country of origin with the follow-up of the Ministry of Commerce.
The second factor centers around consumer confidence in the local market.
According to Al-Shaalan, consumer confidence in the local market was proven during the coronavirus pandemic. Despite the pandemic affecting markets around the world, Saudi consumers did not fear low supplies and no mass buying was registered.
This reflects the consumer’s trust in the government and merchants providing goods.
Regarding the traders’ import strategy, Al-Shaalan said that the season starts from November and lasts until January.
He noted that this period includes the harvest and manufacturing season, during which the order is fully fixed, after which the merchant presents his import plans for this product, which is usually distributed over the 6 months following the harvest season.
