BRF SA (BRFS) has released an update.
BRF S.A., a leading player in the food industry, has announced a strategic supply agreement with the Saudi Agricultural and Livestock Investment Company (SALIC), which owns 11.03% of BRF’s shares. Under the agreement dated May 21, 2024, SALIC will be able to purchase up to 200,000 tons of BRF products per year in the event of a food emergency in Saudi Arabia, with prices set at market rates. BRF’s management has deemed the deal equitable, with sales conditional on the company’s ability to maintain supply to other Saudi clients and dependent on having export-authorized plants.
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