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Business & Finance TOMCL (The Organic Meat Company Limited) 35.15 Increased By ▲ 2.48%

The Organic Meat Company exports heat-treated beef to China

  • Says it has become first company in South Asia to successfully send consignment of heat-treated frozen beef meat products to China
Published January 1, 2024

The Organic Meat Company Limited (TOMCL) said it has become the first company in South Asia to successfully export heat-treated frozen beef meat products to China.

TOMCL, a Pakistani meat processor, shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.

“We are pleased to inform that TOMCL now stands as the first company from South Asia to have successfully exported cooked/heat treated frozen beef meat products to the Peoples' Republic of China (PRC) on December 31, 2023,” read the notice.

“The PRC holds the distinction of being the world's largest meat importer, importing approximately 3.10 million metric tonnes of beef and mutton meat during 2022, and TOMCL has secured a unique position as one of only two companies to have obtained a license for exporting cooked beef meat products to China from South Asia,” it added.

The company said that with these notable approvals and the commencement of active exports to mainland China, TOMCL is set to explore new horizons, anticipating significant growth in export volumes and turnover.

“We are confident that this milestone will not only enhance the company's standing in the industry but also generate substantial value for our esteemed shareholders.

“We look forward to the positive impact this new product line and geographic location opening will have on our business and are excited about the opportunities that lie ahead, as well as generate good value for our shareholders,” it added.

Back in 2021, the Chinese customs authorities approved TOMCL to export heat-treated beef to China.

Last week, the Board of Directors (BoD) of TOMCL approved an expansion plan for the production facilities and upgradation of the company.

“The BoD of TOMCL has given its approval to the management’s decision concerning the proposed expansion plan for the production facilities and upgradation of the company,” read the statement.

TOMCL shared that it has undertaken a substantial expansion of their existing meat chilling and freezing capacities through an enhanced investment outlay of Rs600 million.

TOMCL is engaged in the processing, sale and export of halal meat and allied products.

Middle Eastern countries are TOMCLs’ major export market. However, the company has added pet food raw material to its portfolio which enabled it to tap the US and Europe as well. The company also has significant business in Far East, Commonwealth of Independent States and South Asian markets.

It also claims to be the first Pakistani company to initiate the export of vacuum-packed fresh beef meat and the only company in the region owning the technology to vacuum pack or blast freeze mutton and quarter beef carcasses.

Comments

200 characters
Rebirth Jan 02, 2024 04:37am
All instead of flooding our own local market with these products to bring down food inflation and feeding our restaurant industry to create more cuisines, build more franchises and employ thousands of more people. A country that imports expensive Australian beef, has decided to export its own beef products to China, a country that has an aging, as well as declining population, due to their decades long one-child policy. Instead of making use of our own rapidly growing market, they figured that they wanted to compete with Anglo countries and capture the Chinese market. Like China, Anglo countries have an aging population thanks to liberalism so they’re relying on Indians to fill the gap. All of these demographic groups, old white people, liberals and the Indians, are not big fans of beef steaks. And especially, not Nihari. That’s why they export to China. A part of our population, mainly in Sindh could benefit from more competition in the meat market. As can our restaurant-going public.
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Haris Fahim Jan 02, 2024 11:13am
@Rebirth, they are ready to starve population even if that may allow them to have more dollars. The Chinese eat pork as primary source of meat or duck for bird meat. Yet the SIFC gurus who don't know anything thanks to being inter pass, are obsessed with China
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