The Brazilian food company is looking into processing product locally in the Arab country, where 60% of the poultry consumed is industrialized. Saudi Arabia is currently not purchasing product processed by BRF in its UAE facilities.
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The apparent consumption from the Institute for Applied Economic Research (Ipea) was down 1.4% in August from July.
World Bank forecasts a 0.6% growth for the Middle East and North Africa this year, down from 1.4% estimated in April. Oil production cuts and geopolitical tension are some of the reasons.
Industry association Abraciclo’s chairman Marcos Fermanian said the availability of credit was the primary driver of the increase.
Brazil shipped 1.3 million bags to the region year-to-date through September, up 26% from a year ago.
The Brazilian pulses company joined the stand organized by the Arab Brazilian Chamber at the trade show in Germany and found new clients in Arab countries. The show yielded good results.
IPCA, official measure of inflation, slid by 0.04% last month
The Arab country needs 100,000 tonnes of soft wheat. It’s accepting offers from parties looking to swap for the hard variety of the grain.
During a seminar at the Arab Brazilian Chamber of Commerce, Saudi authorities told Brazilian executives about their country’s market, stressing that incentives are in place for industrial enterprises looking to move in.
Forecast is that the country will harvest 4 million tonnes of white rice this year, up 48% from a year ago and higher than domestic demand.
The Arab Brazilian Chamber of Commerce is fostering deal-making at the world’s premier food industry show, taking place through next Wednesday in Cologne, Germany.
Foreign sales declined 7.1% year-on-year and 0.2% from August, Anfavea reported.
The Arab country’s economy grew 0.84% in the second quarter of this year, despite weaker oil industry performance.
An Arab Brazilian Chamber of Commerce event will explore an industry that grows 5% per year and is deemed strategic by the Arab country’s government, with an expected USD 71 billion in investment through 2020.
