Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Export bans hit Brazil's meat industry after scandal  Join our daily free Newsletter

MENAFN - AFP - 20/03/2017
No. of Ratings : 0
Add to Mixx!


(MENAFN - AFP) The fallout from Brazil's rotten meat scandal gathered force Monday when China, a huge market, suspended imports and the European Union called for a partial ban.

A charm offensive by President Michel Temer, who even invited foreign ambassadors to a traditional meat restaurant in the capital Brasilia late Sunday, failed to calm importers.

China, which with Hong Kong is Brazil's biggest meat export market, said it needed to know more about the allegations that major meatpacking businesses bribed inspectors to get health certificates and masked tainted meat as fit for consumption.

"Until it receives more information, China will not unload meat imported from Brazil," the Brazilian agriculture ministry said in an online statement.

It said Brazilian Agriculture Minister Blairo Maggi will hold a videoconference late Monday with Chinese authorities to offer "clarifications."

The European Commission, the EU executive arm, called on Brazil immediately to halt exports by four companies implicated in the scandal, the bloc's spokesman Enrico Brivio told reporters in Brussels.

Chile's Agriculture Minister Carlos Furche said on Twitter that his government was imposing a "temporary" ban on meat imports from Brazil.

It said the ban would stay in place until Brazil confirmed that companies exporting meat to Chile had been correctly vetted.

At least 30 people have been arrested in the scandal, with Brazilian police raiding more than a dozen processing plants.

A poultry-processing plant run by the multinational BRF group and two meat-processing plants operated by the local Peccin company were shut down, the agriculture ministry said.

- New blow for Brazil -

Brazil is the world's biggest beef and poultry-exporting nation and the row is especially unwelcome when the country is struggling to exit its worst recession in history.

Market analysis group Capital Economics warned the "developing scandal over Brazil's meat exports could plausibly derail the country's economic recovery."

"Brazil is facing a potential loss of export revenues of about 3.5 billion. That's the equivalent of about 0.2 percent of GDP," Capital Economics said. "The economic impact will depend to a large extent on how long any bans stay in place. There are some reasons for optimism here."

Officials are arguing that there is no systemic corruption or health problem in the meat industry and that the police operation uncovered only a few bad apples.

"Agribusiness is extremely important for us in Brazil," Temer said in an address Monday. "It cannot be discredited just because of a small group."

The scandal also broke just days before the start of negotiations to seek a free-trade accord between the European Union and several South American countries including Brazil.

Brazilian meat is exported to more than 150 countries, with principal markets also including Japan, Saudi Arabia and Russia.

Sales in 2016 reached 5.9 billion in poultry and 4.3 billion in beef, according to Brazilian government data. Total meat exports amount to about seven percent of exports and 0.7 percent of gross domestic product, according to Capital Economics.

France and other European countries are wary about opening up the EU meat market to countries in the South American Mercosur bloc, which also includes major exporters Brazil and Argentina.

MENAFN2003201701430000ID1095330619


 


AFP




  MENA News Headlines
 Mar 26 2017 - Morocco- Othmani To Give Press Conference About Government FormationMorocco World News
(MENAFN - Morocco World News) Casablanca- Morocco's Appointed Head of Government, Saad Eddine Othmani, is set to give a press conference on Saturday 25 at 8:30 to inform the public about the latest ...

 Mar 26 2017 - Morocco- Saad Eddine Othmani Announces end of Deadlock, Formation of GovernmentMorocco World News
(MENAFN - Morocco World News) Rabat – Morocco's newly appointed Head of Government, Saad Eddine Othmani announced on Saturday evening the end of the five-long deadlock and the formation of the new ...

 Mar 26 2017 - US-led coalition opens probe into fatal Mosul airstrikeThe Peninsula
(MENAFN - The Peninsula) WASHINGTON: The U.S.-led anti-IS coalition confirmed Friday it has opened a formal investigation into "multiple allegations" that a U.S. airstrike allegedly ...

 Mar 26 2017 - Syrian opposition 'committed to political solution'The Peninsula
(MENAFN - The Peninsula) GENEVA: The head of the Syrian opposition delegation at peace talks in Geneva stressed their commitment to a "political solution" on Friday. UN Special Envoy ...

 Mar 26 2017 - US' top diplomat to visit Turkey March 30The Peninsula
(MENAFN - The Peninsula) WASHINGTON: Secretary of State Rex Tillerson will be in Turkey on March 30 to meet senior Turkish officials, including President Recep Tayyip Erdogan, the U.S. confirmed ...

 Mar 26 2017 - Hamas official shot dead in Gaza StripThe Peninsula
(MENAFN - The Peninsula) GAZA CITY, Palestine: Hamas official Mazen Faqha was assassinated late Friday in the Israeli-blockaded Gaza Strip, the Hamas-run Interior Ministry in Gaza said. 'Faqha ...

 Mar 26 2017 - Turkish forces kill 6 PKK terrorists in northern IraqThe Peninsula
(MENAFN - The Peninsula) ANKARA: Six PKK terrorists were killed during a Turkish military operation in northern Iraq, Turkish Armed Forces said in a statement on Saturday. The military said ...

 Mar 26 2017 - Syrian regime airstrike kills 17 east of DamascusThe Peninsula
(MENAFN - The Peninsula) DAMASCUS, Syria: At least 17 civilians including women and children were killed Saturday in a Syrian regime airstrike east of the capital Damascus, according to a ...

 Mar 26 2017 - Iraqi military says 61 bodies pulled from collapsed Mosul siteThe Peninsula
(MENAFN - The Peninsula) BAGHDAD: Iraqi's military said on Sunday 61 bodies had been recovered from a collapsed building that was boobytrapped by Islamic State in Western Mosul, but there was no ...

 Mar 26 2017 - Iraq probes reports of civilian deaths in Mosul: officerThe Peninsula
(MENAFN - The Peninsula) Baghdad:Iraq is investigating air strikes in west Mosul that reportedly killed large numbers of civilians in recent days, a military spokesman said on Sunday. Iraqi ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help