Minerva sees Asia beef demand at 50 pct of world market in 3-4 years
November 13, 2017
NEW YORK, Nov 13 (Reuters) - Beef processor Minerva SA on Monday said Asia will become the destination for up to half the world’s beef in the next three to four years, up from just under 46 percent in 2017, amid rising demand in China.
That will provide opportunity to continue to boost shipments from South American producers to the region, the company said at an investor presentation in New York on Monday. The growing appetite comes as supplies of protein like beef soar in South America and other key global producers.
“The China market is a huge, huge market,” said Minerva’s Chief Commercial Officer Iain Anderson Mars. “In the coming years, I think it will be more.”
He noted changing consumer tastes behind the rise in demand.
Minerva has also been expanding more locally in South America, taking market share from key competitors including Brazil’s JBS SA...