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World's largest meatpacker JBS aims to double output of new Saudi plant
Yahoo Finance· 2026-01-22 11:11
Core Insights - JBS plans to double production output at its new chicken processing plant in Jeddah, Saudi Arabia, by the end of 2026, aligning with the country's strategy to enhance local food production and reduce food import reliance [1][2] - The Jeddah plant, which began operations last year, has already quadrupled JBS's overall production capacity in Saudi Arabia, where it operates under the Seara brand [2] - JBS has invested $85 million in Saudi Arabia since 2021 and exports meat products from the Jeddah plant to countries including Kuwait, Oman, and the UAE [6] Company Strategy - The introduction of the Seara brand to Saudi consumers in 2021 has positioned it as a top-three brand by market share in the country [4] - JBS is collaborating with the Arabian Company for Agricultural and Industrial Investment to produce products for the Seara brand, indicating a strategic move to strengthen its market presence [5] Competitive Landscape - JBS's rival, MBRF, has also made significant investments in Saudi Arabia, including a joint venture with the Halal Products Development Company, which aims for a stock exchange listing by 2027 [3] - MBRF is constructing a food factory in Jeddah with a processing capacity of approximately 40,000 tons of meat products per year, set to begin operations in mid-2026 [3]