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Saudi Local Companies Produce around 11 Million Tons of Feed Annually

Local companies produce approximately 11 million tons of integrated feed annually. (Asharq Al-Awsat)
Local companies produce approximately 11 million tons of integrated feed annually. (Asharq Al-Awsat)
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Saudi Local Companies Produce around 11 Million Tons of Feed Annually

Local companies produce approximately 11 million tons of integrated feed annually. (Asharq Al-Awsat)
Local companies produce approximately 11 million tons of integrated feed annually. (Asharq Al-Awsat)

Eng. Abdulmohsen Al-Mezayani, head of the National Committee for Feed Manufacturers in the Federation of Saudi Chambers, said that local companies produce approximately 11 million tons of integrated feed annually through 65 specialized factories.

He highlighted the vital importance of the sector in the food security system, pointing to the presence of high manufacturing capabilities with international quality and specifications.

Al-Mezayani was addressing a workshop on the optimal use of integrated livestock feed, which was held at the headquarters of the Federation of Saudi Chambers and organized by the Ministry of Environment, Water and Agriculture, and the National Committee for Feed Manufacturers.

For his part, Dr. Al-Arabi Al-Ameem, Director General of the Animal Production Department at the Ministry of Environment, Water and Agriculture, stated that fodder was one of the most important elements in providing food security in the Kingdom, indicating that work was underway on a set of initiatives to support the growth of the sector and enhance its capabilities.

The Ministry of Environment recently stated that the optimal use of integrated feed for livestock in the Kingdom would increase sales profitability by 41 percent compared to conventional feed (barley and alfalfa), and would reduce annual costs by 35 percent.

On a different note, Yousef Al-Benyan, Minister of Education, recently met with the National Committee for Training and Private Education in the Federation of Saudi Chambers, stressing the importance of the private sector in the education system and the Kingdom’s Vision 2030.

Al-Benyan pointed to the high demand for private and international schools, stressing that through joint work and cooperation, the participation of the private sector in education would exceed 25 percent.

President of the Federation of Saudi Chambers Ajlan Al-Ajlan emphasized the importance of the private education sector in the Kingdom, adding that cooperation with the ministry was underway, with the aim to overcome challenges, raise the quality and efficiency of the sector’s outputs and attract more investors.

Meanwhile, the Riyadh Chamber of Commerce, in cooperation with the National Industrial Development and Logistics Program (NIDLP), organized on Tuesday a workshop to present the program to a group of investors, manufacturers and entrepreneurs.

Eng. Suliman Almazroua, CEO of NIDLP, stated that the program was based on creating a strong link with the targeted business sectors and manufacturers in particular.

The workshop reviewed the stages of the investor’s journey in the targeted sectors, the general and qualitative enablers, the competitive advantage, and the “Thousand Miles” entrepreneurship support initiative.

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Expert: Türkiye Anti-inflation Steps Don’t Go Far Enough

People shop at a bazaar in Istanbul. Reuters
People shop at a bazaar in Istanbul. Reuters
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Expert: Türkiye Anti-inflation Steps Don’t Go Far Enough

People shop at a bazaar in Istanbul. Reuters
People shop at a bazaar in Istanbul. Reuters

Although Turkish inflation slowed in September, it is still raging out of control with the government avoiding difficult decisions that could help tackle it, experts told AFP.

Türkiye has experienced spiraling inflation the past two years, peaking at an annual rate of 85.5 percent in October 2022 and 75.45 percent in May.

The government claims it slowed to 49.4 percent in September.

But the figures are disputed by the ENAG group of independent economists who estimate that year-on-year inflation stood at 88.6 percent in September.

Finance Minister Mehmet Simsek has said Ankara was hoping to bring inflation down to 17.6 percent by the end of 2025 and to “single digits” by 2026.

And President Recep Tayyip Erdogan recently hailed Türkiye’s success in “starting the process of permanent disinflation.”

“The hard times are behind us,” he said.

But economists interviewed by AFP said the surge in consumer prices in Türkiye had become “chronic” and is being exacerbated by some government policies.

“The current drop is simply due to a base effect. The price rises over the course of a month is still high, at 2.97 percent across Türkiye and 3.9 percent in Istanbul.

“You can’t call this a success story,” said Mehmet Sisman, economics professor at Istanbul’s Marmara University.

Spurning conventional economic practice of raising interest rates to curb inflation, Erdogan has long defended a policy of lowering rates. That has sent the lira sliding, further fueling inflation.

But after his reelection in May 2023, he gave Türkiye’s Central Bank free rein to raise its main interest rate from 8.5 to 50 percent between June 2023 and March 2024.

The central bank’s rate remained unchanged in September for the sixth consecutive month.

“The fight against inflation revolves around the priorities of the financial sector. As a result, it is done indirectly and generates uncertainty,” explained Erinc Yeldan, economics professor at Kadir Has University in Istanbul.

But raising interest rates alone is not enough to steady inflation without addressing massive budget deficits, according to Yakup Kucukkale, an economics professor at Karadeniz Technical University.

He pointed to Türkiye’s record budget deficit of 129.6 billion lira (3.45 billion euros).

“Simsek says this is due to expenditure linked to the reconstruction in regions hit by the February 2023 earthquake,” he said of the disaster that killed more than 53,000 people.

“But the real black hole is due to the costly public-private partnership contracts,” he said, referring to infrastructure contracts which critics say are often awarded to firms close to Erdogan’s government.

Such contracts cover construction and management of everything from motorways and bridges to hospitals and airports, and are often accompanied by generous guarantees such as state compensation in the event they are underused.

“We should question these contracts, which are a burden on the budget because this compensation is indexed to the dollar or the euro,” said Kucukkale.

Anti-inflation measures also tend to impact low-income households at a time when the minimum wage hasn’t been raised since January, he said.

“But these people already have little purchasing power. To lower demand, such measures must target higher-income groups, but there is hardly anything affecting them,” he said.