Saudi Arabia mulling ban on export of subsidised goods
- Saudi Arabia: Wednesday, December 19 - 2012 at 02:01
The Saudi Higher Economic Council is expected to issue a decision banning export of goods subsidised by the kingdom, Arab News has reported. Market sources said that huge quantities of flour are being exported, with merchants taking advantage of the difference in prices to export the commodity to neighbouring markets, the report said. There is a study underway to assess the value of the subsidy in each exported product that contains flour. "A decision is expected in the coming months in this regard," said Walid Al-Khuraiji, general manager of the Grain Silos and Flour Mills.
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