Saudi Arabia is boosting its food security by increasing its stake in the largest Brazilian meat company
Through Salik, owned by the Public Investment Fund
Wednesday – 28 Muharram 1442 AH – 16 September 2020 CE
Saudi Salik headquarters (Middle East)
Riyadh: «Middle East Online»
The company said in a statement that «Minerva Foods» is one of the largest companies producing meat in South America and the second largest exporter in Brazil. It produces more than one million tons of meat and mainly meets the demand from foreign markets. During the current year 2020 AD, it has exported 750 thousand tons of red meat to more than 100 countries around the world. Salik added that its strategic partner is VDQ in Minerva. Foods »supports this trend of investment and considers it an addition to the progress of its business and its results.
Salik indicated that the Brazilian company, Minerva Foods, was established in 1992 and operates 25 slaughtering factories in South America and 3 processing plants with revenues of 19 billion Rials in the 12 months ending on 30 June 2020, and it has been a public joint stock company since 2007. It is listed on the Brazilian stock market.
It is noteworthy that the Kingdom consumes 550 thousand tons annually of red meat, representing 70% of foreign imports. Salik started its operations in 2012 and works in the field of agricultural investment and animal production in countries that have comparative advantages to contribute to achieving the objectives of the food security program from Through foreign investment, providing food products, and working with relevant government agencies to stabilize food commodity prices in the Kingdom, its strategic goals are to ensure imports of a specific group of basic food commodities.