Qatar needs to further strengthen its greenhouses and vertical agriculture to solve the key food security issue, according to a senior official at Hassad Food, an investment fund in the food and agricultural sectors and backed by the country’s sovereign wealth fund.
Addressing one of the sessions of the third edition of the Qatar Economic Forum, hosted by Bloomberg, Hassad Food Managing Director Mohamed Badr Hashem al-Sadah said that the food security game was the chain of supply.
Asked how Qatar was able to grow more local products in a harsh climate; he said that’s where technology and research and development (R&D) come in.
Stressing that technology and R&D help to fill gaps in the supply chain and therefore in food security; he said greenhouses and vertical farming are “the only ways we can bridge the gap.”
Mahaseel for Marketing and Agri Services Company, a subsidiary of Hassad, recently revealed that it has successfully marketed 10 million kg of locally produced vegetables in the Qatari market, since January 2021. This represented growth more than doubled by year over year.
Mahaseel currently sells 30 different varieties of vegetables on the local market, through 44 hypermarkets across the country. In addition, 200 local farms are registered with Mahaseel, to benefit from the marketing and agricultural services provided to them.
Hassad Food, whose international investment portfolio includes Australia and Oman, has been tasked with meeting the needs of Qatar’s growing economy, while achieving profitable and sustainable business goals.
The official said Hassad Food’s core strategy is to develop the food business locally and develop the system to store products that cannot be grown in the country.
“We are positioning ourselves as an investment fund in the food and agriculture sector, under the auspices of the QIA,” said al-Sadah, who assumed the role of managing director at a crucial time when Qatar was crossing the border. Gulf crisis period.
âThe first mandate (before me) was to fill all the gaps (in the supply chain) for which we had started talks over six to seven countries,â he said, adding that he âsaid managed to stabilize the market in seven days and that was success for Hassad “.
Internationally, Hassad has invested in key strategic establishments in Australia, Canada, Turkey, Oman, Saudi Arabia and Sudan, while in Qatar, Hassad has several subsidiaries that directly manage key investments in the world. ‘business. Hassad also has a major role in crisis management and in research and development.
At the recent St. Petersburg International Economic Forum, Hassad Food revealed that it is exploring investment opportunities in Russia in grain production, meat processing and agricultural technologies, as part of a strategy to expand its global footprint.