A contract has been signed between The Organic Meat Company Ltd (TOMCL) of Pakistan and a Middle Eastern food processor about the supply of frozen boneless meat.
As per details, the meat company will supply 250 million tons of meat to the Global Developing Food Industries Company of Saudi Arabia.
The Organic Meat Company Ltd (TOMCL) has signed a $1 million contract to supply frozen boneless meat to a Middle East-based food processor. #PakistanMovingForwardhttps://t.co/KQAagv6bw6
— PTI (@PTIofficial) September 28, 2021
The 10-month contract is nearly 6.3% of the company’s sales in the trailing 12 months.
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The organic meat company of Pakistan has been the first that was approved by the Saudi Food and Drug Authority for the import of meat.
TOMCL initially began production of fresh chilled beef and mutton in 2011 and became listed on Pakistan Stock Exchange (PSX) last year.
#PSXUpdate – The Organic Meat Company Limited (TOMCL) to get listed on the Pakistan Stock Exchange. Trading to start from Monday August 03, 2020 at Rs 20/ share.#Pakistan #KSE100 #PSX #PakistanStockExchange pic.twitter.com/GtHXmZeagr
— Capital Stake (@CapitalStake) July 30, 2020
It is the only company that exports frozen white and red offal.
As reported by Dawn, Pakistan ranked 18th in 2019 with just above 3% share in the global halal meat exports.