Rice prices jumped 20 percent jump in the last six months on the Saudi market, but importers say that sufficient quantities remain available.
The current stock is estimated to be about 350,000 tons — about 25 percent of the Kingdom total annual imports of 1.4 million tons — coming mostly from India.
The chairman of the Board of Directors of Al-Shaalan Rice Company, Mohammed Al-Shaalan, attributed the reasons for the high rice prices in the Kingdom to price hikes in the exporting countries, in addition to the increasing demand for rice, especially the Indian rice (Basmati) from various global markets.
Al-Shaalan said the Saudi market has enough stock in various companies, and in excess of 25 percent of the total annual imports. He said this should assure everyone that there is enough quantities to meet the local growing demand for rice..
“According to the information available, there is a good harvest in the source countries for the current year, and we will reap the benefits of this harvest beginning of the month of October,” he said. “However, we cannot predict what might happen during the next phase of rain or floods, which may affect the size of the crop in general.”
Al-Shaalan added that, “Investing in rice farms in India is impossible because of the control of a lot of families and farm owners. A lot of rice plants in India also buy the products of small farmers.”
The entry of new countries to buy rice in large quantities with the tight supply in producing countries contributed to the rise in prices, he added.
The CEO of Al-Othaim Markets Company, Yousef Bin Mohammed Al-Kaffary, agreed that there is plenty of rice in the market.
For the new season, which starts during the month of October, the projections indicate an increase in production compared to last year.
Al-Kaffary also indicated that rice prices have been rising over the past months due to lack of crop availability and increase in demand. However, the expected bumper of new crops will contribute to lower prices.
The owner of chain food supermarket, Mohammad Al-Bashiry, said that the market has a sufficient stock of rice, and did not note a shortage of any kind. He reassured that such availability of rice in sufficient quantities will meet domestic demand in the Kingdom despite of the huge demand for it from different segments of society.
The price of rice experienced an all-time high during the past months, with increases exceeding 20 percent, especially before the Holy month of Ramadan.
Prices are expected to continue to rise, especially “Basmati” rice with its various types, which rose more than SR13 per bag, from SR25.50 to SR 8.50 for a 5-kg bag.
The price of a 10-kg bag increased by about SR18, up to SR70, while the price of a 40-kg increased about SR20.
Exporting countries to blame for rice price hike
Exporting countries to blame for rice price hike
Jeddah forum focuses on coral reef conservation
JEDDAH: The Red Sea Coral Reef Fish and Fisheries Forum began in Jeddah on Tuesday.
The two-day event aims to bolster efforts to preserve coral reef fish populations and fisheries while enhancing ecosystem sustainability in the Red Sea.
Organized by the General Organization for the Conservation of Coral Reefs and Turtles in the Red Sea, the forum brings together 37 experts in marine ecosystems from Saudi Arabia and beyond.
Several governmental entities are taking part to discuss cooperation between Saudi Arabia and other countries.
Additionally, the event showcases initiatives to address challenges and capitalize on opportunities for sustainable development in the Red Sea.
The forum focuses on three main topics: Managing coral reef fisheries, mitigating the impact of fisheries on sea turtles and addressing threats to coral reefs to develop effective preservation strategies.
It is part of the Ministry of Environment, Water and Agriculture’s efforts to protect marine environments and enhance cooperation to achieve sustainable development goals for future generations.
Piece of cake: Saudi bakery competing with Paris’ best
MAKKAH: A Saudi-owned bakery in Paris is standing shoulder-to-shoulder with the city’s famed patisseries and giving the best French chefs a run for their money.
Blending French charm with Middle Eastern flair, Lam’s offerings include feta and za’atar buns, halva cookies and even the traditional Saudi kleicha.
Its founder, Abdullatef Al-Rashoudi, grew up in a family of seven children. His father, a brigadier general and commander in the Saudi army, relocated the family to the US for work.
His mother, of Syrian descent, was raised in Syria by the well-known Al-Rawaf family from Qassim. This created a unique cultural blend for Al-Rashoudi, shaping his modern outlook.
He told Arab News: “My life took a radical turn after my father passed away in 1997. I transitioned from childhood to facing significant responsibilities at the age of eight.
“I continued my studies at Dar-Assalam schools in Riyadh, graduating in 2007. I then joined the College of Medicine at King Saud University, where I obtained my medical degree in 2013.
“Afterward, I traveled to Canada to pursue a master’s degree at the prestigious McGill University, and then to France in 2016 to start a fellowship program in orthopedic surgery.”
According to Al-Rashoudi, he faced some difficulties in the program, leading him to pause his studies and return to Riyadh, where he worked at King Saud University for a year.
“In 2019, I decided to completely change my career path after realizing that my true passion lies in culinary arts, not medicine,” he added.
“With the support of my family and a scholarship from the Misk Foundation, I pursued culinary studies at Le Cordon Bleu in France, a longtime dream of mine.
“There, I honed my skills in the arts, and after graduating, I worked in several famous bakeries in France, gaining experience in a field that is highly competitive with chefs of extensive expertise.”
After three years of intensive training, Al-Rashoudi realized his dream of opening his own business in Paris: A cafe that combines baked goods and coffee, distinguished by authentic Saudi touches.
The project brought on a unique challenge, especially in a city where baked goods are often considered an integral part of daily life.
Through his cafe, Al-Rashoudi introduced Saudi kleicha, an old folk Saudi pastry, as an exclusive treat for customers.
It is not part of the regular menu, but through this approach, he aimed to introduce the French public to Saudi culture. His goal was achieved, particularly with the satisfaction he has observed among customers.
With support from the Saudi community in France, who frequently visit Al-Rashoudi’s cafe, Lam has received excellent reviews, earning a five-star rating on Google.
Today, Al-Rashoudi aspires to expand his business to other cities in Europe, with the ultimate goal of blending Saudi culture with global culinary arts, showcasing Saudi cuisine as a leading and contributing force in the world of food.
Riyadh’s deputy governor receives Egyptian premier
Prince Mohammed bin Abdurrahman bin Abdulaziz, deputy governor of the Riyadh region, received Egyptian Prime Minister Mostafa Madbouly upon his arrival at King Khalid International Airport on Tuesday.
Saudi Ambassador to Egypt Saleh bin Eid Al-Husseini was also present at the reception.
Separately, Prince Mohammed also received Pakistani Prime Minister Mohammed Shehbaz Sharif and several other officials.
Madbouly and Sharif are heading delegations for their respective countries to attend the Future Investment Initiative Conference in Riyadh, the Saudi Press Agency reported.
Saudi Arabia condemns Israel’s ban on UN agency for Palestinian refugees
- Foreign Ministry describes the decision as a ‘flagrant violation of international law’ and an assault on international legitimacy
- It accuses Israel of attempting to erase the Palestinian identity through ‘ethnic cleansing,’ and of obstructing the peace process
RIYADH: Saudi authorities on Tuesday condemned a decision by the Israeli parliament that prevents the UN Relief and Works Agency for Palestine Refugees from working in Israel and occupied East Jerusalem, describing it as a “flagrant violation of international law.”
The criticism by the Saudi Ministry of Foreign Affairs came a day after Israeli lawmakers voted overwhelmingly to ban the agency’s operations in those areas.
In a statement published by the Saudi Press Agency, the Foreign Ministry said the decision was a direct assault on international legitimacy that disregards the “unprecedented humanitarian catastrophe” affecting the Palestinian people and obstructs the UN’s role in providing essential services.
“The Kingdom affirms its categorical rejection of the continuous and systematic practices of the Israeli occupation authorities in politically and militarily targeting the United Nations’ agencies and its relief organizations,” the ministry added.
It accused Israeli authorities of attempting to erase the Palestinian identity through “ethnic cleansing,” and of obstructing efforts to establish a comprehensive peace process.
It reiterated Saudi Arabia’s unwavering support for UNRWA’s humanitarian mission, and pointed out that the agency’s mandate is rooted in UN Security Council Resolution 194, adopted in 1948, which enshrines the right of return for Palestinian refugees.
UNRWA, which was established in 1949, provides vital aid, including educational, healthcare and social services, to refugees in Palestinian territories and neighboring countries.
In addition to banning UNRWA operations, the new Israeli legislation prohibits Israeli officials from cooperating with the agency or its employees.
Saudi Arabia’s anti-terrorism chief meets Nigeria’s national security adviser
- Al-Moghedi commended Saudi Arabia for its generous support, including funding initiatives for strategic projects benefiting member states
RIYADH: Saudi Arabia’s Maj. Gen. Mohammed Al-Moghedi, secretary-general of the Islamic Military Counter-Terrorism Coalition, met with Nigeria’s National Security Adviser Nuhu Ribadu in Abuja recently to strengthen efforts against terrorist groups.
During the meeting, Ribadu thanked Saudi Arabia for playing a leading role in maintaining regional security and supporting the coalition since its inception, the Saudi Press Agency reported on Tuesday.
He emphasized Nigeria’s commitment to collaborating closely with the coalition in combating terrorism, which has affected his country.
Al-Moghedi commended Saudi Arabia for its generous support, including funding initiatives for strategic projects benefiting member states.
He highlighted programs backed by the Kingdom for training security, military and civil agencies in affected states.
He also reviewed the coalition’s Sahel Program, aimed at supporting regional stability and countering terrorism.
Al-Moghedi and his delegation toured Nigeria's National Counter Terrorism Center, and met its director, Maj. Gen. Adamu Garba Laka to review the body’s resources, functions and operational mechanisms, as well as discuss potential collaboration.
This visit underscores the coalition’s vision to enhance cooperation among member states and foster a secure, stable future for Africa, the SPA report stated.
