Qatar has enough wheat stock, says sole importer

01.09.2010 13:35 "Agro Perspectiva" (Kyiv) — Zad Holdings CEO Tareq Mohamed says rising global wheat prices may not affect Qatar’s consumers in the short run Qatar’s sole wheat importer Zad Holdings yesterday said it has more than six months’ buffer to mitigate the effect of the globally rising prices in view of Russia’s stoppage of exports. «We have strategic reserves. We have cover for the next six months. Hence we do not see any threat in the short run,» Zad Holdings CEO Tareq Mohamed said in Doha on the sidelines of a function to discuss its first half results. Russian Prime Minister Vladimir Putin had banned grain and flour exports from August 15 to December 31 as worst drought on record had devastated crops in parts of that country and as a result, prices of wheat started climbing and had touched a two-year high early this month. With Russia, the world’s third largest wheat exporter, stopping exports, there has been huge demand for produce from other parts of the world. However, Qatar, according to Mohamed, was immune since it basically imported wheat from Australia, Canada and Germany as the Russian wheat was extremely soft and was not in conformity with the standards prescribed in Qatar. Although Russia, which is one of the key wheat producers in the world, stopped exports, he said fundamentally there was no problem as the global market was well supplied and would remain so in view of the new crops in Argentina and Australia. Australian and Argentine wheat is expected to make big inroads into the Middle East market especially from around December. «There has been excessive speculation as it (wheat) is traded in the commodities market,» he said, expecting prices to stabilise. The markets have rather shown signs of stabilisation with prices already started coming down, he said. The Food and Agriculture Organisation cut its 2010 global wheat production forecast from 676mn tonnes to 651mn tonnes because of the situation in Russia «coupled with anticipated lower outputs in Kazakhstan and Ukraine,» but emphasised that the global supply for wheat is still strong. Striking a word of caution, Mohamed said if the prices continue to surge; then there could be a hit on the margins especially due to its growing non-subsidy business segments.

17.04.2024
	18:08	Ministry of Agrarian Policy and Food predicts this year’s harvest of grains and oilseeds at about 74 million tonnes
16.04.2024
	12:12	West Africa Cocoa Shortage Pushes Up Prices
11.04.2024
	23:48	U.S. Soybean Meal Exports Forecast at Consecutive Records in 2022/23 and 2023/24
	23:10	EU Wheat Exports Challenged by Russia’s Growing Dominance
	11:30	Country of origin of honey must be clearly visible on the label. EU honey traceability system to be developed
10.04.2024
	15:59	Commission starts setting up the Agriculture and Food Chain Observatory
	15:33	Commission approves ˆ2.2 billion German State aid scheme to support the decarbonisation of industrial processes to foster the transition to a net-zero economy
	13:17	Donau Soja urges EU for clarity on EUDR implementation
09.04.2024
	10:44	Ukraine remained the third source of EU imports in 2023, with a value of EUR 11.8 billion
06.04.2024
	10:04	World cereal output seen up in 2023/24
	09:55	FAO Food Price Index rises in March
05.04.2024
	10:04	Shellfish Crop Insurance Program Offers Oyster Producers Needed Protection from Environmental Challenges and More
03.04.2024
	23:01	Croatian horseradish root ‘Ludbreški hren' added to register of Protected Designations of Origin
02.04.2024
	10:15	FAO and chef Fatmata Binta announce new project to empower women fonio producers in Ghana
28.03.2024
	12:55	Council compromise on Ukraine ATMs – Only a half step forward in the right direction
	09:18	Commission approves amendment to Italian State aid scheme to support companies in Friuli Venezia Giulia in the context of Russia's war against Ukraine
26.03.2024
	10:55	Projected famine in Gaza: FAO urges immediate access to deliver urgent and critical assistance at scale. About 1.1 million people are experiencing catastrophic food insecurity
	08:44	EU makes major step forward in the delivery of 2024 humanitarian aid for Palestinians in Gaza*
25.03.2024
	16:17	Commission approves ˆ86.9 million Bulgarian State aid scheme to support farmers in the context of Russia's war against Ukraine
21.03.2024
	11:15	Commission takes action to boost biotechnology and biomanufacturing in the EU
20.03.2024
	11:13	Deal to extend trade support for Ukraine with safeguards for EU farmers
19.03.2024
	09:43	CAP - The Commission proposes simplifications that safeguard agricultural transitions!
18.03.2024
	23:10	The European Union and Switzerland launch negotiations to deepen bilateral relations
	10:05	Commission proposes targeted review of Common Agricultural Policy to support EU farmers
15.03.2024
	23:36	Cargill Power CanolaTM Program Helps Farmers Take Advantage of Growing Bioenergy Market Opportunities for Canadian Canola
	23:19	FAO will provide Ukrainian farmers with soybean and sunflower seeds for spring sowing campaign
13.03.2024
	23:27	FAO urges more cooperation in banana sector, significant for some least developed and low-income food-deficit countries and smallholder farmers
	16:51	The European Commission sets out key steps for managing climate risks to protect people and prosperity
12.03.2024
	20:25	Coreper and COMENVI approve the provisional agreement on EU Carbon Removal Certification Framework
	20:24	INTA MEPs fail EU producers by dismissing potential improvements to Ukraine ATMs
	08:10	Soybean meal is expected to be a more competitive feed ingredient on higher global supplies.
11.03.2024
	09:11	U.S. Corn Exports Shift Destinations as Brazil Captures China Market
08.03.2024
	15:20	Conflicts push acute food insecurity higher
	13:21	FAO Food Price Index declines further in February
	13:14	Packaging: Council and Parliament strike a deal to make packaging more sustainable and reduce packaging waste in the EU
	11:45	Commission approves ˆ61.3 million Bulgarian State aid scheme to support farmers, producers of grain and oil crops, in the context of Russia's war against Ukraine
07.03.2024
	20:41	First go-ahead to renewing trade support for Ukraine and Moldova
05.03.2024
	15:55	Commission proposes to prolong road transport agreements with Ukraine and Moldova and introduces updates to the agreement with Ukraine
02.03.2024
	07:31	Heroes of deserts and highlands: Nourishing people and culture
23.02.2024
	10:21	BASF’s financial strength supports proposed stable dividend of ˆ3.40 per share for the 2023 business year
	10:17	The Council has chosen to ignore farmers' concerns regarding Ukraine ATMs; it is now imperative for the European Parliament to take action
20.02.2024
	20:27	South Asia is anticipated to import nearly 14 million tons wheat in 2023/24
19.02.2024
	13:00	Cargill and ENOUGH expand partnership to provide consumers with innovative, sustainable protein options
17.02.2024
	17:47	Global Environment Facility approves new FAO-led projects and programs benefiting 46 countries
16.02.2024
	09:10	The EU is at a crossroads with the Ukrainian agricultural issue - COPA-COGECA, AVES, CEFS, CEPM, CIBE, EUWEP
13.02.2024
	17:31	European farmers exempted from rules on land lying fallow
12.02.2024
	16:45	India Wheat Stocks Plummet to Lowest in 15 Years
03.02.2024
	17:35	Mandarins. Global production for 2023/24 is forecast to rise to 38.0 million tons
	09:59	Record cereal output in 2023
	07:15	FAO Food Price Index down again in January led by lower wheat and maize prices