The JBS group has signed an agreement with Win Chain, a subsidiary of Chinese group Alibaba, to provide meat worth US$1.5 billion over the next three years, the group said in a market statement.
The deal was finalised at the China International Imports Exhibition in Shanghai from 5-10 November, the largest ever signed in this sector between companies in Brazil and China.
China is already one of the main export markets for JBS products, and this agreement with Win Chain covers beef, pork and chicken, and will begin within 30 days.
The president of JBS Carnes, Renato Costa, told Brazilian newspaper Valor Econômico that beef should be the most sought after by the Chinese company.
JBS and Win Chain, which will take over the distribution logistics for the products covered by the agreement, had already made some test shipments to ensure that the export, receipt and marketing process would work without incident.
The agreement signed with JBS is part of a US$200 billion purchase package signed by the Alibaba group’s subsidiary with several food production companies. (macauhub)