São Paulo – Brazilian firm Minerva Foods reported on Thursday (11) it has signed a contract with London-based Salic UK, a subsidiary of Saudi Agricultural and Livestock Investment Company (Salic) to supply as much as 25,000 tons of products a year at market prices. Salic has a stake in South America’s meat major Minerva.
Minerva reported the tie-up will strengthen its exposure in Middle Eastern and Asian markets, which accounted for 55% of the firm’s total beef exports in the first nine months of 2020. “With Salic’s support, the Supply Contract will strengthen Minerva Foods’ exposure in the Middle East and Asia, which account for 65% of the world population and 40% of global GDP,” it said.
A memorandum of understanding was also signed between the two parties to potentially acquire assets in Australia and set up a joint-venture project in breeding and processing beef and lamb for export. Minerva said Australia is the world’s top processed lamb exporter and second beef exporter and gives access to growing economies such as Asia and Middle East and high-income countries such as the United States, Europe, Japan, and South Korea, and others.
Translated by Guilherme Miranda
