Saturday 7 January 2012

Qatar's next big purchase: a farming sector | Reuters

Qatar's energy resources have given it one of the world's highest per capita incomes, a futuristic urban skyline and enough clout to host the 2022 soccer World Cup. But its wealth may not be enough for the arid state to achieve an even more ambitious goal: becoming largely self-sufficient in food.

Like other oil-rich, water-poor Gulf states, Qatar has been investing in large areas of farmland overseas to ensure access to food supplies. The agricultural arm of Qatar's sovereign wealth fund, Hassad Food, has bought land in Sudan and Australia, and has announced plans to spend hundreds of millions of dollars on agricultural projects in countries including Kenya, Brazil, Argentina, Turkey and Ukraine.

But in contrast to the other Gulf states, Qatar also aims to produce most of its food domestically, by spending massively to boost crop yields and convert semi-desert into agricultural land.

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