Slaughterhouses growing in Paraguay
With the recent purchase of Frigomerc by Minerva, Brazil has expanded its already impressive domination of the beef chain in Paraguay. Market sources estimate that together Minerva, JBS and Torlim will have a market share of about 60% in slaughter and exports. According to data provided by Brazilian sources, in 2011 the three companies held a 49% market share - just over 72,000 tons of the 142,000 tons of beef exported from Paraguay. They had almost half the sector's foreign exchange revenue, at US$ 377 million of a total market worth US$ 755.7 million.
It is estimated that Frigomerc alone, the second-largest plant in the country, exported nearly 20,000 tons worth US$ 110 million in 2011. According to Minerva, its new acquisition grossed US$ 150 million in the period - it has not confirmed, however, data on Frigomerc's exports. With this, Minerva - which in 2011 exported 13,800 tons worth US$ 67.8 million through Friasa, its only subsidiary in Paraguay at the time - expects to see its revenue jump to more than US$ 150 million, according to CFO, Edison Ticle. Its share of Paraguayan beef exports will thus increase from 8% to nearly 20%.
Information provided by Valor Econômico