The Qatar Company for Meat and Livestock Trading (Mawashi) plans to set up a plant in the country to tap the dairy industry, the company’s managing director and chief executive officer said.
“There is huge demand for dairy products in the country, and Mawashi is shifting its focus to food security and beyond trading in meat and livestock,” Ahmad Nasser Sraiya al Kaabi told mediapersons on Thursday.
Without giving financial details about the plant planned, Kaabi said the proposal is still in planning stage and it would be too early to assess the investment value. He said the Qatar Exchange-listed company will continue with its ambitious expansion plans in order to achieve maximum returns on stock price, by putting to use its entire capabilities and resources.
Commenting on the livestock availability in the country, he said, “Livestock consumption is on the rise in Qatar and livestock development plans are being reviewed in a manner that will see imports decreased, fodder levels increased, and further investments in overseas farms, leading to the import of livestock back to Qatar.” Kaabi further said the company has been expanding beyond the borders of the country and has set up offices in Sudan that would guarantee the supply of quality meat and livestock by land, sea and air.
Emphasising the need for food security in the country, Kaabi quoted market research firm Euromonitor’s report and said that Qatar’s population grew at an average rate of nearly 12 percent per year over the past decade. By 2030, the population will reach at least 2.4 million, the report says, up from today’s 1.4 million. “Such growth will place enormous pressure on the food supply chain,” he said.
“In the shorter term – in the next four years – food consumption in Qatar is forecast to grow faster than in any other GCC country, at a rate of 6.3 percent per annum, and GCC states will need to import almost 90 percent of their food,” Kaabi said.
He said that today, only a tenth of Qatar’s 65,000 hectares of arable land is being used for agriculture due to a lack of fresh water supplies, which is why more resources are being placed into food security projects. Later, speaking about the company’s half yearly financial results Kaabi said that net profits reached QR41.7 million during the first half of 2012, turning Mawashi into one of the largest companies of its kind in Qatar and the region.
Net profits were up from QR18.50 million over the same period in 2011.
source: Qatar Tribune
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