São Paulo – The Middle East became an expanding destination for exports fom Athena Foods, a subsidiary that brings together operations of Brazilian meat processing company Minerva Foods in Argentina, Uruguay, Paraguay, Chile and Colombia. The region had a 10% share of Athena’s international sales in the last 12 months until June this year; this share was 7% in the previous 12 months, representing a 3% increase. Pictured above, Athena’s headquarters.
In contrast, Minerva shipped a lower percentage of exports to the Middle East from its operations in Brazil. From July 2020 to June 2021, the region accounted for 7% of total exports; this number was 9% in the previous twelve months, from July 2019 to June last year. In this case, there was a 2% decrease.
“Middle East is still an important market for Minerva Foods. The fluctuation in export volume is related to our strategy of geographic diversification in South America, which allows us to spread customers throughout our operations, always seeking the highest efficiency,” informed the company to ANBA.
Minerva is a leading company in the export of beef and its byproducts in South America. In a financial statement released this week, the company said the global beef market still has a high demand, despite the struggles the COVID-19 pandemic continues to impose on the world economy. The company also reported estimates for the second half of this year are increasingly positive.
“The global continues to have very solid foundations, heated demand, and restricted supply; thus, we believe the global economic upturn movement will provide even more opportunities for beef exporters in our continent,” said the CEO of Minerva, Fernando Galletti de Queiroz, in a note from the managers in the release of the results for the second quarter.
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Minerva had a 39.4% growth in gross export revenue in the second quarter of this year over the same period in 2020, expanding from USD 3.3 billion to USD 4.6 billion. The amount includes exports from Brazil and other countries in South America. In the last 12 months until June, exports increased 25.7%, to USD 16.4 billion.
Both for Athena Foods units and Brazilian units, Asia is the leading export destination. For Athena’s operations, the region accounted for 37% of total exports in the twelve-month period ended in June 2021. For the Brazilian units, the Asians purchased 59% of exports in the same period. China was Minerva’s primary market abroad, with 50% of the company’s Brazilian exports.
In the release of the results, Minerva Foods emphasized investments in sustainability. In the second quarter, the company announced the “Minerva Foods Commitment to Sustainability” project. It aims to invest BRL 1.5 billion (about USD 287.2 million) in initiatives to fight the effects of climate change, monitor the supply chain, and in higher environmental efficiency for its operations.
Translated by Elúsio Brasileiro
