- Corn market size estimated at 3.6 MMT. Insignificant local crop.
- #1 barley importer in the world with 8 MMT.
- 487 TMT import of corn co-products.
- Quality market but also sensitive to price.
- Population: 32.1 million
- Population growth: 1.96%
- Urban %: 78.9%
- Urban growth: 2.5%
- GDP: $1.68 trillion
- GDP growth: 3.6%
- GDP per capita: $52,183
- Oil-based economy with strong government controls over major economic activities. The petroleum sector accounts for 80% of budget revenues.
- Declining oil prices and budget deficit pushed the government to reduce fuel subsidy.
- Saudi Arabia hosts 6 million foreign workers supporting all sectors of the sluggish econ omy.
Trade and Market Share Issues
- The U.S. is the lead corn supplier with 46% market share with over 1.65 MMT. Both Brazil and Argentine come second with equal shares of 28% each.
- Russia, Ukraine, Germany and Romania supplied 6.4 MMT of barley in 2015. No barley exports from the U.S.
- Poultry and dairy are the main consumers of imported corn. Corn is sold at market prices, but barley is sold to Bedouins at subsidized price.
- Water scarcity and global price volatility prompted Saudi Arabia to stop local production of green fodder by 2019.
- KSA is seeking offshore feed agriculture and livestock export ventures.
- Removal of barley and other feed ingredients from subsidy lists, by government, could decrease demand.