JBS to supply China with US$717.26 million worth of meat

Worldwide
Published:  29 January, 2020
Credit: Friboi

The Brazilian meat processor announced it has signed a Memorandum of Understanding (MoU) with WH Group for the supply and distribution of fresh beef, poultry and pork to the Chinese market.

Jointly, JBS and WH Group are to offer a portfolio of Friboi and Seara branded products in a deal that could reach R$3 billion (US$717.26 million) in business per year. “This agreement reflects the maturity and evolution of our trade relations with China”, said Renato Costa, President, Friboi. “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”, he added.

In addition to expanding JBS' products and brand presence in the Chinese market with the focus on beef, the meat processing giant said that the major objective of the agreement is to have direct access to the consumer through more than 60,000 exclusive WH Group points of sale in the country. “It will be an opportunity for us to evolve in our supply chain in an unprecedented business model for JBS”, said Costa. The first shipments of products under this agreement will start in the first quarter of this year.