Dumped by the US and EU last year, meat from a duma meat market in Germany is now going to feed the world.
The new deal with the Duma Meat Market is the largest ever in the world for duma meats and is part of the company’s $3.3bn (£2.9bn) annual revenue, which is up 30% from last year.
This new deal, announced in a press release, comes just days after a similar deal was struck between the German government and the UK’s meat industry to help fund a new project in the country.
Duma meat is produced by small and family-owned farms, and is made from pork, beef, lamb and chicken.
These farms are able to access cheaper and faster production methods because of a recent government subsidy, which the Düsseldorf-based company says was the largest in the EU.
“We are happy to support the German agricultural sector, which has been struggling for years due to the European Food Safety Authority (EFSA) restrictions on meat imports and our demand is increasing,” the company said in a statement.
“The Düdskembe (Duma Meat) project has the potential to provide the same benefits for the local farmers.”
This agreement comes as the UK is also considering a £3.5bn food and farming deal with Duma, and in the US, the meat industry has signed a £1.9 billion deal with Tyson Foods.
The Düsskembeme (dubbed the Dapper Meat) meat market is currently worth £1bn.
The company said that the deal with Germany will allow it to access “the same global supply chains and markets” that it used to.
The deal was signed last week, with a formal opening ceremony set for Wednesday.
“This agreement has been negotiated for two years and it will be completed in a short time,” Düseldreich-based spokesman Dirk Ziele said in the press release.
“For the first time, we can export our products, as well as grow our business. “
Dapper Meat is an important part of our global strategy to provide affordable and delicious meat to our customers, our suppliers and the global public,” he added.
“For the first time, we can export our products, as well as grow our business.
It is the best of both worlds for our customers and the world.”