Saudi Arabia Announce Subsidies on Imported Rice

Facing the heat after Saudi Arabia's inflation climbed to 4.89%, its highest in at least a decade, Saudi Arabia’s King Abdullah ordered subsidies on imported rice in order to cushion consumers from the rising prices.

The Saudi government is likely to pay a subsidy of 1,000 riyals ($267) PMT of imported rice which would provide relief over the growing discontent over rice prices.