Abrafrigo: Brazil may lose up to US$ 3 billion in revenue by 2026 due to Chinese safeguard

The Brazilian Association of Meatpackers (Abrafrigo) estimates that the adoption of safeguard measures by China on the import of beef could result in a loss of up to US$ 3 billion in revenue for Brazil by 2026. This Wednesday, the 31st, the Chinese government announced that it will impose specific quotas per country for the import of beef with the application of an additional tariff of 55% for volumes that exceed the quantity. The measures come into effect tomorrow (1st) and will extend until December 31, 2028, and will affect the volume of Brazilian exports in the coming years. "Abrafrigo expresses deep concern over the announcement of the application of safeguards on the import of beef by China, a measure that represents a material and immediate risk to the performance of Brazilian exports and the balance of the national production chain," the entity said in a statement. Brazil, the main supplier of red meat to the Chinese market, will have an export quota of 1.106 million tons ...