Brazilian meat exporters turn to neighboring countries to supply China

Published 2023년 3월 3일

Tridge summary

The Brazilian Ministry of Agriculture has suspended protein shipments to China due to a potential case of 'mad cow' disease, leaving the decision for reinstatement to Beijing. This suspension comes as a setback to major beef exporters such as JBS SA, Marfrig Global Foods, and Minerva SA, which rely heavily on the Chinese market, accounting for approximately 60% of Brazil's beef exports. Meanwhile, Uruguayan and Argentinian companies like Minerva and Marfrig are set to fill the demand from China, potentially increasing their market share amidst the suspension.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Due to the possible atypical case of "mad cow", the Ministry of Agriculture voluntarily suspended protein shipments, as provided for in the agreement with China. It is now up to Beijing to give the green light for the resumption of business, and there is no deadline for that. In 2019 there were 13 days of waiting. In 2021, more than 100 days. The main exporter of beef in South America, Minerva reported that it will meet the demand from China from its three plants in Uruguay and its unit in Argentina. With this, the company, which in 2022 registered record revenues of R$ 31 billion (1 BRL = 0,18 EUR), hopes to maintain its share in the Chinese market. Marfrig will export to China from its six units in the two neighboring countries. China, the main destination for Brazilian beef, accounts for about 60% of the country's exports. Brazil was also China's top beef supplier last year, ahead of Argentina and ...

Source: EuroMeat