Minerva will serve China with units abroad after case of “mad cow” in Brazil

Published 2023년 2월 23일

Tridge summary

Brazilian beef company, Minerva, will continue to meet Chinese demand for beef through slaughter units in Uruguay and Argentina, following a suspension from Brazil due to a case of 'mad cow disease'. The suspension, part of a business protocol between Brazil and China, is expected to be temporary, according to Minerva. The company believes the suspension will have a greater impact on its negative news flow than its financial bottom line. Analysts speculate that China may use the case to negotiate lower meat prices.

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

Original content

SAO PAULO (Reuters) - Minerva said on Thursday that it will continue to meet Chinese demand for beef through four slaughter units, three in Uruguay and one in Argentina, after a "self-embargo" by Brazil due to a case of “mad cow disease” in Pará. According to Minerva, this strategy will prevent its market share from being affected, since the Brazilian units that previously shipped meat to the Chinese are now suspended. The slaughterhouse, leader in South America in the export of beef, commented that the suspension was due to the confirmation of a case of Bovine Spongiform Encephalopathy, in a 9-year-old animal, as reported by authorities the day before. Minerva's shares started the day down more than 1% and operated close to stability shortly after the opening of business. Brazil and China, the largest importer of the Brazilian product, have a business suspension protocol for cases of atypical BSE, something that has already happened in the past. Samples from the animal were sent ...

Source: Mixvale