Arab Press

بالشعب و للشعب
Saturday, Jul 12, 2025

Brazil's BRF, Saudi Arabian fund set up poultry joint venture

Brazil's BRF, Saudi Arabian fund set up poultry joint venture

Brazilian chicken and pork processor BRF SA (BRFS3.SA) signed a memorandum of understanding with Saudi Arabia's sovereign fund to create a joint venture to make poultry products in the Middle Eastern country, sending its shares higher.
BRF said in a securities filing on Thursdaythat it will hold a 70% stake in the joint venture, while Saudi Arabia's Public Investment Fund (PIF) will have the remaining 30%.

The MOU is non-binding and aims to create a company to produce and sell fresh, frozen and processed poultry products. BRF declined to provide additional details about the move as it is in a quiet period ahead of a shareholder vote on Monday to decide on a follow-on share offering.

The Brazilian company said the joint venture will require a $350 million investment if it materializes.

Shares in BRF were up 3.7% at 24.72 reais in morning trading, making it one of the top gainers on Brazil's Bovespa index (.BVSP), which rose 0.3%.

The move underscores BRF's strategy to keep a relevant stake in the so-called halal food market, where food must be prepared according to Muslim dietary requirements.

Brazil is the world's biggest halal meat supplier, selling chicken and beef in profitable Islamic markets across the globe.

Itau BBA analysts saw the deal as positive for BRF, saying it was in line with the two sides' long-term goals and is accretive for BRF's operations in the Middle East, defending its "strong brand positioning within the region."

Saudi Arabia is Brazil's fourth-biggest chicken customer, having imported 353,500 tonnes in 2021, according to trade data compiled by meat industry group ABPA, which represents Brazilian producers and exporters.

The volume represents a 24.4% drop from the previous year, as the Saudis are trying to reduce imports and boost local production of chicken products.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Russia Formally Recognizes Taliban Government in Afghanistan
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Germany Seeks Taliban Deal to Deport Afghan Migrants
Emirates Airline Expands Market Share with New $20 Million Campaign
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Qatar Airways Clears Backlog of Passengers Following Missile Threats
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
×