China agrees to resume imports of Brazilian beef, authorizes four new plants

Published Mar 23, 2023

Tridge summary

The Brazilian government has successfully negotiated the resumption of beef exports to China, following a month-long ban due to a mad cow disease case. In addition to the reinstatement of beef exports, China has also approved four new beef-packing plants in Brazil. This development is significant as China is the primary market for Brazilian beef exports, which accounted for 62% of the total volume last year. The lifting of the ban is anticipated to mitigate the financial impact on Brazilian beef producers, who were losing approximately $25 million daily during the embargo.

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

Original content

BEIJING/SAO PAULO :Efforts by the Brazilian government to lift a month-long ban on beef exports to China paid off on Thursday, as Beijing agreed to resume imports while also approving four new beef-packers based in Brazil, according to authorities in both countries. China's General Administration of Customs approved the resumption of imports of Brazilian beef and authorized the new plants a day after Brazilian Agriculture Minister Carlos Favaro arrived in Beijing ahead of a visit by Brazilian President Luiz Inacio Lula da Silva next week. Sales of Brazilian beef to China were voluntarily halted by Brazilian authorities on Feb. 23, following the discovery of an atypical case of mad cow disease. More than a quarter of the business leaders travelling to China with President Lula come from Brazil's booming meat industry, highlighting the high stakes for a sector reliant on Chinese demand for most of its exports. Lula will visit China accompanied by a delegation of 240 business ...

Source: Channelnewsasia