Almuneef signs SAR 4.5M contract with Al-Jouf Agricultural

Almuneef Co. for Trade, Industry, Agriculture and Contracting signed on Oct. 3 a contract to buy 2,000 tons of wheat seeds with Al-Jouf Agricultural Development Co. at a total of SAR 4.5 million, exclusive of VAT, other taxes and fees.

These additional fees will be added to the total value when issuing the monthly invoice, Almuneef said in a statement to Tadawul.

The contract is valid for two months. The deal aligns with the company’s annual plans to meet the local market needs for the wheat planting season.

The relevant financial impact is expected to show by the end of Q4 2024. The company added.

Rashid bin Owain, Non-Executive Vice Chairman at Al-Jouf Agricultural and non-executive board member at Almuneef is a related party.