BRF Arabia Holding Company has purchased a stake in a Saudi chicken processor for USD 84.3 million. The company says it is establishing itself as a partner in the Arab country’s food security.
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Exports to the country have been consistently growing since 2022, based on the analysis of the first eight months of the year. Imports, on the other hand, are declining.
Saudi Arabia is the fourth leading destination of chicken produced in Brazil. Shipments to Arab countries and elsewhere were lower, though.
Brazil shipped an average volume of 431,400 tonnes in the first quarter of 2024 compared to 428,000 tonnes last year. June’s and first quarter’s results were down, though, although Saudi Arabia and the United Arab Emirates stepped up purchases.
Annual event of the International Poultry Council holds presentations and debates on the poultry supply chain. Arab-Brazilian Chamber secretary-general & CEO Tamer Mansour spoke about focusing on halal consumers.
Revenue growth was 9.3% compared to the same period in 2022. The United Arab Emirates was the third leading buyer in the period, and Saudi Arabia came fifth.
Libyan executives arrived in the country aiming to close deals and make new contacts. Among them are businesspeople from a food importing group and Tripoli Chamber of Commerce executives.
Saudi Arabia imported 119,500 tonnes of Brazilian poultry from January to April and was one of the leading buyers of the period.
Revenue grew 39% compared to January 2022. China, Japan, Saudi Arabia, South Africa, and the European Union were some of the leading destinations.
Shipments reached record-breaking volumes and revenue in 2022. The United Arab Emirates were the second main destination for Brazilian exports.
The Gulf country was the primary buyer of eggs in the accumulated result for 2022 and the second leading poultry protein shipments, behind only China.
The announcement was made by the director of the Public Authority for Agriculture Affairs and Fish Resources of the Arab country to the official Kuwaiti news agency.
The Saudi-based food industry announced investments of USS 1.3 billion in farms and a new plant aiming to achieve leadership in sales of poultry protein in the country.
According to a CNA executive, Brazil has the opportunity to increase poultry and beef shipments to Morocco. The port complex in the city of Tangier is the largest in the Mediterranean.
