The world’s top beef exporter Brazil is in advanced talks to begin shipments to Japan, according to a major industry group, in a move that may hurt US sales to the Asian nation.
Shares of JBS SA, the world’s biggest meat producer, climbed in Sao Paulo trading after the company made its first foray into the egg sector at a time when concern over the global spread of bird flu is buoying prices.
South America’s top egg producer, fresh off a sale of a 50% stake in the company to meat producer JBS SA, said it is weighing a merger or acquisition to enter the US market.
China is deepening ties with agriculture powerhouse Brazil, with a unit of the Asian nation’s largest food company set to open a new terminal in the port of Santos at the end of March.
Suppliers of fertilizers and pesticides in agricultural powerhouse Brazil are facing a harder time replenishing their inventories amid mounting liquidity constraints, according to Lavoro Ltd.
Brazil’s government is mapping out sectors of the economy that could be affected by a trade war launched by US President Donald Trump as well as measures the South American nation can adopt in case of tariffs imposed by the US, Folha de S. Paulo reported.
Brazil is pressing Mexico to allow pork exports from more meat plants as Latin America’s biggest economy seeks to win new markets by taking advantage of Donald Trump’s trade wars.
Shares of Brazil’s JBS SA set a fresh record high as the world’s largest meat supplier received approval from the US Securities and Exchange Commission for its proposed share listing in New York.