Chinese officials carried out a remote inspection of Brazilian slaughterhouses whose exports to the Asian country have been suspended due to Covid-19 cases among employees.
Brazil’s largest meatpackers JBS SA and BRF SA said that the coronavirus outbreak could help boost Chinese demand for their products, as it fans concerns about domestic food safety in China. However some also believe sales could be held back by aggressive demands for discounts from Chinese buyers.
Brazilian food processor BRF SA on Tuesday announced an agreement to invest around US$ 120 million to build its first chicken processing plant in Saudi Arabia in a bid to strengthen its position in a key growth market.
Brazilian meatpacker BRF SA has admitted to bribing food inspectors with bank deposits and health benefits, police said on Tuesday, although the company itself avoided raids as it was cooperating with the latest phase of the corruption probe.
Brazil's BRF SA, the world’s largest chicken exporter, believes Europe could lift an embargo affecting a dozen of its plants sooner than anticipated because of the global meat supply imbalance deriving from a deadly hog disease in China.
Latin American stocks in the region's main markets closed on Tuesday at new highs on the positive outlook for the ongoing US/China trade talks in Beijing. Brazil's Bovespa index ended trading above 92,000 points for the first time ever after hitting several record highs last week.