The General Organization for Grains in the Kingdom of Saudi Arabia announced an increase in the purchase price of local wheat.
The corporation said in a statement on Wednesday that it had agreed to increase the purchase price of local wheat to 1,700 riyals per ton, equivalent to $453.14 per ton.
This is the second increase for this season, in light of the periodic review it conducts to follow developments in the international wheat markets.
It is worth noting that world wheat prices have witnessed a remarkable increase recently, following the Russian invasion of Ukrainian lands, and both countries are among the world's largest wheat exporters.
