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Tereza Cristina, Brazil’s Minister of Agriculture, said the U.S. has reopened its market for Brazilian beef, leading to a rise in shares of the major Brazilian meat processors.
According to Cristina, licensed Brazilian meatpackers have been authorised to resume exports to the U.S. as from February 21, leading to a rise in shares of meatpackers JBS and Marfrig. The U.S. had suspended its imports of Brazilian beef since 2017 and, according to local media, 21 slaughterhouses across Brazil could be authorised to export meat to the U.S.. Between January and June 2017, Brazil is said to have exported US$56.3 million to the latter.
In 2019, the South American nation exported US$7.59 billion (+15.5%) worth of meat worldwide, representing 1.84 million tonnes (+12.4%), mainly to China, Hong Kong, the EU and Egypt, according to the Brazilian Meat Exporters Association (Abiec).