2011-12-21 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: Saudi wealth manager NCB Capital has said the kingdom remains vulnerable to increases in food prices due to its high dependence on imports, Arab News has reported. The inability to fully pass on higher costs to consumers will exert pressure on the margins of food companies, NCB Capital said. Saudi Arabia depends significantly on imports to meet its food requirements with food imports set to more than double to SR132bn by 2020 from SR63bn in 2010. "Any rise in global food prices remains a key concern for Saudi Arabian food companies due to their exposure and reliance on this as a key raw material," said Farouk Miah, acting head of equity research. "The recent rise in global food prices has seen the profitability of Almarai and Savola, the two largest listed players in the Saudi food sector, severely impacted."  

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