Mega agribusiness eyes Aussie meat
South America’s Minerva Foods, one of the world’s biggest producers and exporters of beef and beef by-products, has signed an agreement with the Saudi Agricultural and Livestock Investment Company (SALIC) to expand operations in Australia, with the aim of the possible acquisition of assets and the formation of a joint venture focused on breeding, farming, processing and exporting sheep and cattle from Down Under.
Australia is the world’s leading exporter of sheep meat processed products and the second largest exporter of beef. We’re recognised worldwide for the quality of our produce, with access to both high-growth markets – such as Asia and the Middle East – and markets with high income levels that can enable high profitability, such as the United States, Europe, Japan and South Korea, among others.
In a statement, Minerva Foods – which produces more than one million tons of meat each year – said “the company believes that Australia uniquely complements our operations in South America, maximising sales opportunities and operating synergies, reducing risks and contributing to our strategy of consolidation in the animal protein export market.”
SALIC already owns Merredin Farms, one of Australia’s largest wool, sheep meat and cropping farming operations, with arable lands in Western Australia extending over 211,000 hectares that produce around 117,000 tons of wheat and 8500 tons of barley annually. The business also runs about 40,000 Merino sheep, which are prized for their wool.
SALIC works to shore up food security system in Saudi Arabia “by creating a series of sustainable agricultural investments in multiple geographic regions”.
With the creation of this joint venture, SALIC and Minerva are “seeking to maximise new business opportunities, in order to meet the growing global demand for animal protein”.