Brazil beef giant Minerva entered a supply deal with Salic
Brazilian firm reported it has entered an agreement with Salic UK, a Saudi Arabia’s Salic subsidiary, to sell as much as 25,000 tons of products a year. A memorandum has also been signed for potentially doing business in Australia.
Brazil-Arabe News Agency (ANBA)
São Paulo – 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’s meat major Minerva.
Minerva reported the tie-up will strengthen its exposure in Middle Eastern and Asian markets, which accounted for 55% of the firm’s total beef exports in the first nine months of 2020. “With Salic’s support, the Supply Contract will strengthen Minerva Foods’ exposure in the Middle East and Asia, which account for 65% of the world population and 40% of global GDP,” it said.
A memorandum of understanding...