Anaam Holding stops green fodder cultivation at Jouf farm

Anaam International Holding Group Co. (Anaam Holding) stopped cultivating green fodder at its Jouf farm as of Nov. 3, in compliance with the Kingdom’s rules, the firm said in a statement to Tadawul today.

Anaam Holding plans to implement new strategies that will not affect its revenue, including leasing some of its land plots and planting alternative crops such as vegetables, fruit and potatoes, it said.

The farm will also raise livestock to generate more revenue. It will also operate the fodder plant to compensate for the green fodder shutdown.

The financial impact resulting from stopping green fodder cultivation will be revealed at a later date, it added.

In December 2015, the Saudi agriculture ministry issued a three year green fodder phase-out plan to end local production by 2019.