Tag Archives: Pig

JBS Brasil finalized a deal to buy Bunge’s margarine, mayonnaise business | Instant News


SAO PAULO (Reuters) – Brazilian food processor JBS SA said on Monday that it had completed the acquisition of its margarine and mayonnaise business from local unit Bunge, according to a securities filing.

The deal includes the purchase of three manufacturing facilities previously owned by Bunge located in the states of Santa Catarina, São Paulo and Pernambuco. Commodity trader and food processor Bunge agreed to sell margarine and mayonnaise assets in Brazil to JBS subsidiary Seara Alimentos in December last year.

JBS said at the time Seara would pay Bunge 700 million reais ($ 131.24 million) for the assets.

The acquisition gives JBS rights to brands including Delícia, Primor and Gradina, strengthening the company’s position in the margarine market in Brazil as well as its distribution capabilities, according to the archive.

JBS said the deal was expected to bring in an additional 1.2 billion reais of annual revenue to the Seara division. The acquisition is in line with the strategy to expand the product portfolio and higher value added brands.

Reporting by Ana Mano; Edited by Marguerita Choy and Sam Holmes

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China found the corona virus in frozen meat, packaging from Latin America, New Zealand | Instant News


BEIJING (Reuters) – The Chinese city of Jinan said at the end of last week it had detected the coronavirus in beef and tripe and its packaging from Brazil, Bolivia and New Zealand, while two other provincial capitals detected it on packaging for pork from Argentina.

China is stepping up testing on frozen food after repeatedly detecting the virus in imported products, triggering an import ban, even as the World Health Organization says the risk of catching COVID-19 from frozen food is low.

In Jinan, the capital of China’s eastern province of Shandong, the goods involved were imported by a unit of the Guotai International Group 002091.SZ, and the Shanghai Zhongli Development Trade, the city’s municipal health commission said late Saturday.

They entered through the port in Shanghai, he said, without specifying the company that shipped the products to China. More than 7,500 people who may have been exposed have tested negative for the coronavirus, he said.

Cases of frozen pork were reported in Zhengzhou, the capital of central China’s Henan province, and Xian, the capital of Shaanxi. It was not immediately clear whether the two cases were linked.

The sample that tested positive in Zhengzhou came from frozen pork weighing 24 tonnes shipped from a storage facility in Qingdao, in Shandong, authorities said.

China, the world’s biggest beef buyer, last week found the coronavirus in Argentine beef packaging in Shandong and Jiangsu, and on Brazilian beef packaging in Wuhan.

Separately, the city of Baotou in China’s Inner Mongolia region said it had disinfected several products and vehicles at a company after an asymptomatic coronavirus case in the northern city of Tianjin came into contact with a batch of frozen pork from France.

It is unclear whether the authorities suspect the person has infected the meat or vice versa. Nucleic acid tests on 115 people came back negative, authorities said.

Reporting by Shivani Singh and Roxanne Liu in Beijing; additional reporting by Tom Daly; Edited by William Mallard and Gareth Jones

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Socially conscious investors rated JBS Brasil, ‘medium’ risk BRF, Minerva ‘high’ | Instant News


SAO PAULO, Nov 10 (Reuters) – Brazilian meat packers such as JBS SA and BRF SA have not yet addressed the major sustainability issues affecting investors’ perceptions of their industries, according to Coller’s FAIRR Protein Producers Index released on Tuesday.

One smaller Brazilian meat packer, Minerva SA, is rated “high risk” by the FAIRR Initiative, a network of investors that monitors environmental, social and governance (ESG) issues in the dairy, meat and aquaculture sectors.

JBS, BRF and Marfrig are rated “medium risk” in the index, which ranks 60 global issuers against 10 ESG risk factors.

Of the 60 companies covered, 38 companies valued at $ 165 billion on average were ranked as “high risk”, across all 10 risk and opportunity categories measured by the FAIRR Initiative, whose members own $ 25 trillion in assets under management.

In Brazil, Marfrig got the highest score of 59 out of 100 possible points. The rivals JBS and BRF scored 51 and 49 points, respectively. Minerva scored 20 points.

The top performer overall was Mowi from Norway, the world’s largest supplier of farmed salmon. The two worst performers are based in China and India.

This year, climate change and the COVID-19 pandemic are weighing on an industry “which has emerged from the fundamental constraints surrounding land, water and antibiotic use,” FAIRR said. The health crisis exposed “governance failures” with respect to working conditions in meat packing factories, he added.

In Brazil, companies including JBS, Marfrig and Minerva are also under increasing scrutiny for their alleged links to Amazon deforestation.

FAIRR acknowledges their commitment to avoid buying cattle from areas where deforestation is potential, saying that tracing the origin of livestock only from direct suppliers is not sufficient.

Marfrig said in a statement it could trace the origins of 42% of the cattle supplied by direct breeders, and by 2030 it aims to be able to trace 100%.

Minerva, BRF and JBS were not immediately available for comment. (Reporting by Ana Mano; Editing by Richard Chang)

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BRF Brazil posted a Q3 profit of $ 40.61 million | Instant News


SAO PAULO, November 9 (Reuters) – Brazilian food processor BRF SA reported a net profit of 218.7 million reais ($ 40.61 million) for the third quarter, slightly above analyst expectations, according to a securities filing on Monday.

Profit before interest, taxes, depreciation and amortization, a measure of operating income known as EBITDA, totaled 1.13 billion reais in the quarter, the company said. ($ 1 = 5,3858 reais) (Reported by Ana Mano, Editing by Chris Reese)

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UPDATE 2-BRF Brazil posted third-quarter profit, slightly above forecast | Instant News


(Added details on government cash transfers, Halal market information)

SAO PAULO, Nov 9 (Reuters) – Brazilian food processor BRF SA generated third-quarter profit driven by a strong performance in the domestic market, beating expectations slightly, according to a securities filing on Monday.

The BRF said it earned 218.7 million reais ($ 40.61 million), compared to the average analyst estimate of 203.15 million reais according to Refinitiv data.

Net income rose 17.5% to 9.9 billion reais, as the company raised the average price of its products. The volume of processed food and meat sales increased 0.7% during the quarter, to 1.1 million tonnes, he added.

BRF, the world’s largest chicken exporter, gets more than half of its sales from Brazil, where net income is up nearly 21%.

In Brazil, government cash payments to help with bad weather due to the pandemic increased spending on food, allowing the BRF to pass higher prices for grain to consumers. This partly offsets higher feed prices and COVID-19-related costs, he said.

Internationally, net income was up 13.5%, but production adjustments for the pandemic continue to affect operations. As a result, gross profit and margins have become depressed, said BRF regarding the pandemic problem that is burdening its export business.

In the Halal market, BRF posted sales of 173,000 tonnes, little changed from last year’s period, as Saudi Arabia maintained import restrictions.

Higher grain costs and other dollar-denominated expenditures also affect its export profitability, the company added. ($ 1 = 5,3858 reais) (Reporting by Ana Mano in Sao Paulo Editing by Chris Reese, Matthew Lewis and Richard Chang)

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