Pilgrim's Investment Boost: A $1.3 Billion Commitment to Mexico's Poultry Sector

Pilgrim's is set to invest $1.3 billion in Mexico's poultry industry over the next five years, aiming to cut chicken imports by 35%. This move will create 4,000 jobs and boost production by 373,000 metric tons. The investment symbolizes Pilgrim's confidence in Mexico's economic environment.

In a significant development for Mexico's poultry industry, Economic Minister Marcelo Ebrard announced on Thursday that Pilgrim's, a leading poultry producer, plans to inject $1.3 billion into the country over the next five years.

This substantial investment is expected to reduce Mexico's chicken imports by 35%, according to the minister. The planned expansion will also increase production by around 373,000 metric tons and generate approximately 4,000 direct jobs, marking a pivotal shift in local poultry production.

President Claudia Sheinbaum praised the initiative in a morning press conference, highlighting the safety and profitability of investing in Mexico. Pilgrim's CEO Fabio Sandri reaffirmed the company's commitment to the region, where it has been operating successfully for nearly four decades.

(With inputs from agencies.)