Brazil meat lobby says global food inflation creates opportunity

Rising food prices are benefiting meat companies in Brazil, as trade barriers are being lifted and domestic suppliers continue to have relative ease of access to grains used as livestock feed, meat lobby ABPA said on Thursday.

 

Ana Mano, Reuters

via Nasdaq - Jul 28, 2022

 

SAO PAULO, July 28 (Reuters) - Rising food prices are benefiting meat companies in Brazil, as trade barriers are being lifted and domestic suppliers continue to have relative ease of access to grains used as livestock feed, meat lobby ABPA said on Thursday.

 

Ricardo Santin, ABPA president, celebrated that Brazil was recently authorized to export pork to Canada, and added it aims to sell more types of pork cuts to South Korea, Japan and Chile pending talks with these nations to remove certain sanitary barriers.

 

"A lot of large global (meat) suppliers are not sure where they will get grains from and at what prices," Santin noted, alluding to the effects of the war in Ukraine, which disrupted global grain trade flows and natural gas supplies into Europe from Russia.

 

Santin said Brazilian meat processors like BRF SA and JBS SA can increase supplies and export more meat to the Middle East and Asia.

 

He said even though China has bought less pork overall this year, that country will continue to import around 3 million tonnes per year -- more than twice than before the outbreak of African Swine Fever in 2018...

 

... For pork, Brazilian companies are poised to increase output by up to 5% this year and by up to 3% in the next...

 

more

https://www.nasdaq.com/articles/brazil-meat-lobby-says-global-food-inflation-creates-opportunity