NADEC sees potential to enter red meat market amid lack of competition: CEO

Logo of National Agricultural Development Co. (NADEC)

Sulaiman Al-Twaijri, CEO of National Agricultural Development Co. (NADEC), said there is a strong opportunity to enter the red meat market and exploit the company's brand that attracts a large consumer base, in light of the absence of major industry-related firms and competitors in contrast to the poultry market.

There are big names in the market of white meat and its derivatives, such as eggs and others, but the company does not neglect this whenever it finds an opportunity in the future, Al-Twaijri added in an interview with Al-Ekhbariya TV. 

He also indicated that the 12 agreements signed by the company during the launch of the new strategy are in line with the national plan for agriculture. They shall contribute to the Kingdom's food security, in addition to providing high-quality products that yield strong return to investors.

NADEC announced, on Jan. 30, its 2023-2027 strategy under the slogan (A New Dawn), which aims to strengthen its leadership locally and regionally through expanding the current business operations, developing new markets, expanding product range and entering into new ventures, according to Argaam's data.

NADEC aims to become a vertically-integrated food business, targeting SAR 6 billion revenue by 2027.