Positive results and new partnership for Minerva
Brazilian meatpacker Minerva closed the first half with export revenues of $346.8 million, a 43.3% increase compared with the same period in 2007.
The company also announced that is now controlling Paraguayan firm Friasa SA, which operates an industrial meatpacking unit with a slaughter capacity of 700 head per day. The acquisition cost $4million and involved the purchase of 70% of Friasa's shares. This is the start of Minerva's expansion within the Mercosur region.
Paraguay is the world's eighth largest beef exporter. It has 11 million cattle, plenty of potential for improvement and has been declared a foot-and-mouth disease-free country with vaccination.
Besides exporting to countries such as Russia, South Africa, Vietnam, Israel and Hong Kong, Paraguay also exports beef to Chile, where it holds 55% of the market. The country is currently in negotiations to open of the European market to its in natura beef.
According to Paraguay's national animal health service Senacsa, exports of natura beef grew 37% in volume to 73,005 tons and 90% in financial terms to $257 million in the first five months of the year, the largest increase within the Mercosur. Beef exports accounted for 22% of the country's total exports.
