The meeting took place at the Campo Grande factory which is set to make the first shipment of meat to China as part of a new export agreement, one of 38 in the country authorised to send products to China.

This move is expected to boost Brazil’s trade balance by R$10 billion (US$2 billion) over the next year, according to the agriculture ministry’s Secretary of Commerce and International Relations Roberto Perosa.

JBS CEO Gilberto Tomazoni said during the event that the company plans to invest around R150 million (US$29 million) to double daily production capacity at the facility to 4,400 head.

Speaking at the meeting, Lula said: “This family is predestined for success. Joesley and Wesley are responsible for this company becoming the largest animal protein company in the world. This is a source of pride for me. If we want, we can do anything we dream.”

At the end of March, JBS announced that the brothers were being re-appointed to the company board, having left the company in 2017 after confessing to bribery as part of a widespread corruption scandal in Brazil and spending several months in jail.

These developments come as JBS attempts to list its shares in the U.S., despite pushback over environmental concerns.

Source: Bloomberg