Saudi Arabia Collaborates With Brazilian Companies On Food Industry Localization

Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, is currently on an official visit to Brazil. During his trip, he engaged with officials from leading Brazilian companies in the global food industry. The discussions focused on localising food production in Saudi Arabia, transferring knowledge, and exploring modern manufacturing technologies to enhance food security.

Minister Al-Khorayef visited Minerva Foods, a major player in the global red meat market. He examined advanced food manufacturing technologies used by the company and discussed potential investment opportunities. Minerva Foods plays a crucial role in the Saudi food market, with red meat imports making up 25% of the sector.

The Saudi Agricultural and Livestock Investment Company (SALIC) holds a significant stake in Minerva Foods. SALIC initially acquired 19.5% of Minerva for $210 million in 2016. Subsequent investments in 2018 and 2020 increased their stake to 33.8%, totalling $204 million.

During his visit, Minister Al-Khorayef also met with Gilberto Tomazoni, CEO of JBS, a multinational Brazilian company renowned for its meat and poultry production. JBS is known for its innovative use of laboratory-based meat cultivation and production technology.

JBS is currently establishing a new food factory under the brand name Seara in Jeddah. This factory represents an investment of up to SAR 500 million and is expected to open by the end of this year. The facility aims to help meet the growing food demands of the Saudi market.

The discussions between Minister Al-Khorayef and Brazilian officials highlight Saudi Arabia's commitment to enhancing its food security through strategic partnerships and investments in advanced manufacturing technologies.

These efforts are part of broader initiatives to localise food production within the Kingdom, ensuring a stable supply chain and leveraging international expertise.

The collaboration with Brazilian companies like Minerva Foods and JBS underscores the importance of international cooperation in achieving these goals.

This visit marks a significant step towards strengthening Saudi Arabia's position in the global food industry while fostering innovation and sustainability within its borders.

With inputs from SPA