Saudi agribusiness market to hit $2.2 billion

The Saudi agribusiness market is expected to grow 1.3% year-on-year to a value of $2.2 billion. This forecast for 2012 is based on the government's increased investments in the agricultural sector, which so far have amounted to US$16 billion. The kingdom also remains focused on food security measures even as Saudi investors receive approval from the Cabinet on foreign agroinvestments. Furthermore, the Islamic Corporation for the Development of the Private Sector's launch of a $600 million food and agribusiness fund seeks to address the kingdom's need for investments in commercially sustainable projects for food and agriculture. The government is also planning to invest in agricultural facilities such as wheat storage.Air Max 95 20th Anniversary