Iran war costs squeeze Gulf’s protein boom

Iran war costs squeeze Gulf’s protein boom

Gulf consumers have long embraced the global protein craze, but the Iran conflict is squeezing the margins of food companies seeking to profit from the trend. Riyadh-based National Agricultural Development Co., better known for its dairy brand Nadec, doubled sales in its protein segment, helping lift second-quarter revenue by 5.5%. But profit for the period fell 44% as higher feed and shipping costs erased those gains.The company said shipping d…