JBS signs $3bn deal to supply to China
Tannery and meat group JBS has
signed a Memorandum of Understanding (MOU) to supply beef, poultry and pork to
the Chinese market in a deal worth an estimated $3 billion per year.
The Brazilian group will have direct access to consumers through more than
60,000 exclusive Hong Kong-based WH Group points-of-sale in the country.
“This agreement reflects the maturity and evolution of our trade relations with
China,” said Renato Costa, president of Friboi, one of JBS’s meat brands.
“We have seen changes in the Chinese consumer profile regarding protein
consumption and a growing concern for food quality, product traceability and
enhanced food safety. To meet this demand, we have developed on the ground
teams, and dedicated partnerships and projects in China.”
The first shipments of products under this agreement will start in the first
quarter of this year.
