Poultry sector lands SAR 5 bn in agreements at Riyadh poultry exhibition: The Middle East Poultry Exhibition kicked off with 29 agreements worth SAR 5 bn to boost supply chains and drive innovation in the local poultry sector, according to a statement (pdf) from the Environment, Water, and Agriculture Ministry. The event brought together 340 local and international companies across the poultry, feed, animal health, and nutrition industries.

The market, by the numbers: The Kingdom’s poultry sector produced over 1.1 bn kg of broiler chicken last year, with 72 projects certified under Saudi GAP and supported by agricultural subsidies, according to Assistant Undersecretary for Animal and Fisheries Wealth Ali bin Mohammed Al Shaikhi. The sector also attracted over SAR 1.5 bn in foreign investment during the same period.

Financing the sector: The Agricultural Development Fund has issued 1.6k loans totalling SAR 10.4 bn to the poultry industry to date, Al Shaikhi said. This includes 1.1k loans for broiler projects worth SAR 5.24 bn and 334 for laying hen projects worth SAR 1.98 bn. Additional funding supported hatcheries, quail farms, slaughterhouses, and other poultry initiatives.

IN CONTEXT- Saudi Arabia is the largest poultry producer in the Middle East and has nearlydoubled its poultry production over the past decade as part of a push for food self-sufficiency and to address an 80% reliance on food imports that leaves the Kingdom vulnerable to shocks. The Kingdom has earmarked USD 4.5 bn to increase local poultry output, achieving a 72% self-sufficiency rate with over 1 mn tons of poultry meat produced annually. Local chicken production is growing at 6% a year — one of the fastest rates in the world.

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