Saudi Arabia has lifted its 21-year ban on South Africa’s meat products following thorough inspections by the Saudi Food and Drugs Authority in June 2023.
The Kingdom of Saudi Arabia is one of the leading importers of Agricultural products at $21 billion in 2022, South Africa represents 2% of that figure exporting fruits including oranges, lemons, pears, grapes, mandarins, apples, plums, grapes, and avocados, Agri trade between the two nations is set to expand when South Africa exports 1000 tonnes of meat to Saudi Arabia following the decision to lift the ban on South African Meat products.
Trade between South Africa and Saudi Arabia is worth $403. 56 million 2022. The deepening of trade relations between the two nations will contribute significantly to agri-trade among BRICS nations
Saudi Arabia’s membership in BRICS to boost BRICS Agri-Trade
Saudi Arabia’s bilateral trade with BRICS countries totaled $160 billion in 2022, The kingdom is a major importer of Agricultural products, and combined with the group’s agri-market worth $320 billion could spell significant growth in trade among BRICS+
Saudi Arabia’s top imported products include meat, edible offal, rice, barley, milk, and cream. Countries that dominate the supply of farm products to Saudi Arabia are Brazil, India, the US, the UAE, Germany, France, Turkey, and Egypt, 2 of these countries will form BRICS + in January 2024.
South Africa is a net exporter of some of these products, that Saudi Arabia imports from the world Chief agri-economist Wandile Sihlobo notes in his weekly post.
Mzansi’s meat market was valued at $7.5 billion in 2020 and is projected to register a growth of more than 3% during the forecast period of 2021-2025 according to a report by GlobalData.
