Brazilian poultry firm seeks more income from Middle East
Brazil's BRF SA, the world's largest poultry producer, aims to increase revenues from the Middle East to at least a fifth of its total income by 2020, Reuters reports.
The company opened its first Middle East production facility in Abu Dhabi on Wednesday, which will make breaded products such as chicken nuggets, pizzas, burgers and other food items. Initial investment was US$160 million but the group plans to expand its production capacity by 30% to 100,000 tonnes by 2020.
The Middle East is BRF's largest export market and contributes 17% of group revenues, led by its Sadia brand of halal products.
"Our market share has been growing between 5 to 10% in the Middle East in the last five years despite the Arab Spring," Pedro Faria, the company's international chief executive, who will promoted to chief executive officer on January 1, said.
The region's growing population and rising consumption of frozen food over chilled food created growth opportunities, he added.