S\u00e3o Paulo \u2013 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\u2019s meat major Minerva.<\/p>\n
Minerva reported the tie-up will strengthen its exposure in Middle Eastern and Asian markets, which accounted for 55% of the firm\u2019s total beef exports in the first nine months of 2020. \u201cWith Salic\u2019s support, the Supply Contract will strengthen Minerva Foods\u2019 exposure in the Middle East and Asia, which account for 65% of the world population and 40% of global GDP,\u201d it said.<\/p>\n
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\u2019s 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.<\/p>\n
Translated by Guilherme Miranda<\/strong><\/p>\n