‎“SABIC Agri-Nutrients” receives notification of an increase in ‎feedstock prices ‎

SABIC Agri-Nutrients announced that it has received an official notification from the Saudi Arabian Oil Company (Saudi Aramco) stating an increase in feedstock prices. It is expected that the financial impact of this notification will be an approximate increase equivalent to 3.8% of the total cost of sales, according to the company’s latest audited annual financial statements. This effect will appear starting from the first quarter of the fiscal year 2024.

The company said in a statement today on “Tadawul” that it continues to work to enhance the efficiency of its business and develop it in a responsible and sustainable manner, and to invest in innovating and developing production technologies and products, as well as maximizing the benefits of the competitive infrastructure available in the Kingdom to achieve its strategic goals.