Qatar: No shortage of wheat for six months
Posted by Zawya
The Peninsula
07 August 2010


DOHA: Qatar has procured adequate wheat stocks to make sure that no shortages of this basic food commodity take place in the country at least over the next six months.

The step has been taken in view of the crisis that threatens to escalate wheat prices worldwide due to depleting production and supplies.

Wheat supply security guaranteed over the coming six months means that wheat flour prices in Qatar would remain stable, a local Arabic daily reported yesterday.

It quoted the general manager of Zad Holding, formerly Qatar Flour Mills, Tariq Mohammed, as saying that Qatar had signed wheat import deals to procure enough stocks for local consumption over the next half-a-year.

The daily said Russia's announcement on Thursday that it was banning the export of wheat over the next four-and-a-half months since millions of acres of its land had been affected due to drought and fires, was unlikely to adversely impact wheat supplies to Qatar.

Tariq Mohammed said flour prices remained stable in the country despite an upswing being witnessed in the rates of the now-precious grain worldwide for the past 23 months since the supply crisis raised its head.

This is because the Qatari government has been subsidising flour for the benefit of the common consumer here. According to him, Qatar imports wheat from Australia and Canada, and not from Russia, which accounts for some eight percent of world wheat production.

© The Peninsula 2010

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