Saudi Arabia’s General Food Security Authority (GFSA) has awarded its fourth tender for the importation of 307,000 tons of wheat this year. The wheat will be sourced from the European Union, North and South America, Australia, and the Black Sea region.
In a statement, GFSA Governor Ahmad Al-Fares emphasized that this shipment is crucial for maintaining strategic wheat reserves and meeting the needs of milling companies.
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The fourth shipment is expected to arrive between December 2024 and January 2025, transported by five vessels. Two ships, carrying 127,000 tons, will dock at Jeddah Islamic Port, while another two, with 125,000 tons, will go to Yanbu Commercial Port. Additionally, one ship will deliver 55,000 tons to Jazan Port.
Fifteen international grain trading companies competed for this contract, with three winning due to their competitive pricing and adherence to specifications.
In September 2024, Saudi Arabia’s Fourth Milling Company recently announced the price range for its initial public offering (IPO) and the commencement of the institutional book-building period for participating parties. Moreover, the company is expected to raise between SAR810 million ($216 million) and SAR858.6 million ($228.9 million) from the IPO, indicating a market capitalization at listing between SAR2.7 billion ($720 million) and SAR2.8 billion ($763.2 million).
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