NADEC to disclose financial impact of green fodder ban in Q1 2019

30/12/2018 Argaam

 

National Agricultural Development Co. (NADEC) will disclose the financial impact of the Kingdom’s decision to ban green fodder cultivation in the first quarter of 2019.

 

The company is still assessing its crop agricultural plan and the feasibility of transferring its agricultural assets to Sudan, NADEC said in a bourse statement on Sunday.

 

“The process is expected to be completed in the first quarter of 2019, and the related financial impact, if any, will be duly announced,” NADEC added.

 

On Nov. 3, 2018, the food processing firm said it would fully secure its needs of green fodder from its animal farm in Sudan, Argaam reported.

 

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

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