Poultry consumption in Saudi Arabia projected to grow 13.9% to 1.6 million tonnes by 2016-2017 period, due to high population growth and rising personal incomes, according to new report

DUBLIN , November 19, 2012 (press release) – Research and Markets (http://www.researchandmarkets.com/research/534x63/saudi_arabia) has announced the addition of the "Saudi Arabia Agribusiness Report Q1 2013" report to their offering.

We forecast another fall in Saudi Arabia's wheat output for 2012/13, in line with the country's strategy to phase out grains production in the next decade. We believe Saudi Arabia will find sufficient grain supply from the Black Sea region and the EU to supply its food processing industry in the coming years. Recent spikes in feed prices turned us more cautious on margins for dairy and livestock producers in the country, especially the ones that import inputs from abroad. A wave of new investments in poultry production capacity is likely to support strong growth in the coming years and reduce the country's production deficit.

Key Forecasts:

- Wheat production growth to 2016/17: -48.5% to 574,200 tonnes. Wheat production will continue to decrease in the coming years on the back of the government's programme to phase out production.

- Milk production growth to 2016/17: 27.2% to 2.4mn tonnes. Milk production will accelerate on the back of high milk prices and rising demand.

- Poultry consumption growth to 2016/17 13.9% to 1.6mn tonnes. This growth will be linked to high population growth and rising personal incomes.

- 2013 real GDP growth: 4.6% year-on-year (y-o-y), down from 5.2% in 2012. Projected to average 3.3% from 2012 to 2017.

- 2013 consumer price inflation: 5.0% average, down from 5.0% 2012.

- BMI universe agribusiness market value: 1.9% y-o-y increase to US$2.2bn in 2012/13,

forecast to increase by 3.9% on average per year between 2011/12 and 2016/17.

For more information visit http://www.researchandmarkets.com/research/534x63/saudi_arabia

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