Minerva sees room to increase connection with the Middle East

Minerva, the largest beef exporter in South America, considers the Middle East an important region for its product sales. However, there is room and demand to deepen this relationship, especially in light of the global challenge of increasing food production.

Fernando Queiroz, CEO of Minerva Foods, participated this Thursday (13th) in the FII Priority Summit, an international meeting taking place in Rio de Janeiro that brings together leaders and executives to discuss investment opportunities capable of providing countries with sustainable growth.

In Queiroz’s view, the partnership between Brazil and Saudi Arabia opens up opportunities to create a production hub in Brazil and another logistics hub in the Middle Eastern country, which allows for even more significant contributions to the global need to feed people.

The following chart shows beef exports from Brazil to the Middle East between January 2021 and April 2024. The data was extracted from Datamar’s maritime intelligence service DataLiner.

Beef Exports to Middle East | Jan 2021 – Apr 2024 | TEUs

Source: DataLiner (click here to request a demo)

One of the main opportunities in the bilateral relationship refers to the Public Investment Fund of Saudi Arabia (PIF), which has a portfolio of around US$ 1 trillion in investments. According to Queiroz, a relationship built on trust and business synergy allows the company’s size to be multiplied by five.

Another point discussed during the event was the risks and challenges in the production chain in a polarized world. Regarding the growth of ecoprotective measures, such as in the case of Europe, which has sought to increase barriers to products coming from deforested areas, for example, the Minerva executive notes that Brazil stands out for having a balance between the environment, carbon production, and food production. Even so, public and private sectors need to work with clear sustainability rules to ensure free trade, in his view.

“Sustainability also has to do with the dignified supply of food and, by working with clear rules, doors will be opened for us to have food at lower prices, including protein. I see this as a great opportunity since food production is fundamental for the growth of developing countries,” he pointed out.

Source: Globo Rural

Original text available at: https://globorural.globo.com/negocios/noticia/2024/06/minerva-ve-espaco-para-aumentar-conexao-com-oriente-medio.ghtml

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