(MENAFN- The Peninsula) Sanaullah Ataullah |
The Peninsula
Doha: The investments made by Hassad, Qatar's premier investor in food and agribusines, in Qatar and abroad supported greatly in ensuring food security in the country, said an official.
“Hassad diversified its investments in food sector inside Qatar and abroad which provides strong support to ensure food security in the country,” said Director of Business Relations at Hassad Food Mubarak Rashid Al Sahouti, speaking to Qatar Radio.
He said that Hassad made investments in a number of food sectors including poultry, meat, grains, agriculture and logistics.“Hassad's investments are not only in grains. Now the focus is on grain because of the new geopolitical situation. The grains provide food and edible oils, this is why it is important,” said Al Sahouti.
He said Hassad investments covered more than one continent to ensure the food security in the country.
“To cope with the crises such as during 2017, COVID-19 pandemic and at present, we had signed agreements with giant international companies to meet any shortage in food supply in the country,” said Al Sahouti.
He said that Hassad has partnership deals with international companies with huge storage capacity to make benefit when needed.
“The strategy of Hassad in making investments abroad focused on key areas selecting international companies with many branches. We partnered with them with certain shares. The strategic commodities are most important in the investment of Hassad,” said Al Sahouti.
The investment of Hassad is aimed at making profits but as per the agreements signed with companies, there is a clear clause to stand with Hassad during the crises by providing commodities.
“Hassad in cooperation with the Ministry of Commerce and Industry keeps an eye on local and international markets to meet the local demand of food,” said Al Sahouti.
He said that Hassad made investments in Qatar in strategic storage of grains – wheat and barley.
“Now we are working to expand the facilities which will be completed within few months with a storage capacity of 300,000 tonnes of grains.”
He said that this is part of Hassad's efforts in the country to ensure the food security apart from those abroad.
“Another investment of Hassad in Qatar in food security sector is Aswaq company which is operating and developing central markets promoting local produce and receiving products from abroad,” said Al Sahouti.
He said that Aswaq is dealing with essential food items such as vegetables, meat and fish.
In addition, he said, there is Mahaseel which is receiving produce of local farms for packaging and marketing in the country.
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