Shares of slaughterhouses rise after China allows the resumption of imports of Brazilian meat


Image: Pixabay

Shares of slaughterhouses rise on B3 this Wednesday (15/12), after China's customs administration allowed the resumption of imports of Brazilian beef, ending a restriction in force since September 4.

At around 12:12 pm, JBS shares rose 3.6%, and Minerva jumped 10.7%, the biggest rise in the Ibovespa, which fell 0.7%. Marfrig's shares reduced their initial increase and advanced 0.5%.

China reported that it has resumed imports of Brazilian boneless beef products from animals less than 30 months old, according to a document published on the website of the General Administration of Customs.

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Brazil suspended shipments to the Asian country, after the confirmation of atypical cases of mad cow disease in early September. The two parties have since been in negotiations to restore trade.

Minerva, which was directly affected by the restriction, said that slaughtering and beef production operations dedicated to the Chinese market would resume immediately, according to a statement to the market this morning.

The company sells beef to China from seven units in South America, with a slaughter capacity of approximately 10,000 heads of cattle per day.

In a comment to clients, analysts at BTG Pactual wrote that the release is in line with their base scenario, despite the delay in confirmation, highlighting that Minerva is the main beneficiary considering its largest consolidated exposure to China.

Clipping: Notícias Agrícolas | Source: Reuters

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