Monday, 2 November 2009

Qatar Food Company Signs $1 billion Deal to Use Sudan Farmland

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Qatar furthers the trend of Gulf Arab Countries off-shoring their agricultural production to secure food supplies for its citizens and other populations in the Middle East and Northern Africa. Qatar’s Hassad Foods signed a deal last week, worth potentially $1 billion, to develop 20,000 acres of land in northern Sudan, Reuters reports. Cultivation could expand to 250,000 acres.Hassad foods was established a year ago by the Qatari Investment Authority (QIA) to establish the country’s current and future means of maintaining food security. The food company is hoping to develop six other deals in Latin America and Africa.

Qatar Food Company Signs $1 billion Deal to Use Sudan Farmland | Circle of Blue | WaterNews