São Paulo – The Middle East was the destination for 31% of exports of Brazilian meat company Minerva year-over-year ended in March of this year, according to data released by the company this Thursday (10). The share is three percentage points above the 28% registered in the previous twelve months, from April 2017 to March 2017.
The company stated that the growth was a reflection of the continuous increase in demand seen in the region’s countries. In the statement, Minerva’s president, Fernando Galletti de Queiroz, said that the increase in the global demand for beef in this year’s Q1 was driven by strong consumption in Asia and the Middle East.
Overall, Minerva exports revenues reached BRL 8.5 billion (USD 2.47 billion) year-over-year ended in March, up 39% over the previous twelve months. In 2018’s Q1, foreign sales reached BRL 2.3 billion (USD 670 million), up 68.4% over last year’s Q1. The company’s gross revenues totaled BRL 3.7 billion (USD 1.07 billion) from January to March.
Translated by Sérgio Kakitani
