Hong Kong based investment firm ADM Capital has announced a US$18m loan for Australian beef processor Yeeda Pastoral Co., which will allow it to ramp up halal meat exports to the Middle East, North Africa and Asia markets.
Yeeda focuses on the production of halal meat qualifying it for export to Islamic countries. The company is in the final stages of commissioning a processing facility which will "significantly ramp up" its turnover from local and export meat sales, the firm said.
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"We are seeing strong growth in demand for beef in line with increasing income and changing dietary patterns in Asia. This coupled with food security issues in China give us strong confidence in the future of Australian beef production and in Yeeda," said Chris Botsford, co-founder of ADM Capital.
"The halal aspect is particularly appealing as our team spend a lot of time in Indonesia, Malaysia and the Middle East and have witnessed first-hand the need for high quality halal agri-product."
