TOMCL secures $12mn beef export deal with China
In a major development, The Organic Meat Company Limited (TOMCL) has secured a $12-million contract from China for the supply of frozen cooked beef.
The company, engaged in the processing, sale and export of halal meat and allied products, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday.
“The company has successfully secured a significant contract for the supply of frozen cooked beef meat to the People’s Republic of China,” read the notice.
“This contract, valued at USD 12 million, is expected to be a major milestone in the company’s business operations, expanding its international footprint in the growing Chinese market for frozen cooked beef meat products,” added the company.
TOMCL informed that the contract involves the supply of high-quality frozen cooked beef meat over the agreed period, with shipments scheduled to commence soon.
“This partnership aligns with the company’s strategy of enhancing export operations and entering new markets, particularly in Asia, it said.
TOMCL believes that the execution of this contract will have a favourable impact on its revenue and profitability for FY25.
Earlier this month, TOMCL completed the second phase of operational expansion as it aims to cater to growing demand from China.
“This phase adds capacity of 300 Metric Tons (MT) per month for the production of frozen cooked beef meat,” TOMCL said in its notice back then.
Earlier this year, TOMCL became the first company in South Asia to successfully export heat-treated frozen beef meat products to China.
In 2021, the Chinese customs authorities approved TOMCL to export heat-treated beef to China.
Apart from China, Middle Eastern countries are TOMCL’s major export market. The company also has significant business in the Far East, Commonwealth of Independent States and South Asian markets.
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