South America

Brazilian government comes to the rescue of giant meat corporation JBS SA

Brazilian meat giant JBS S.A. has announced that BNDES (Brazilian Development Bank) converted a large amount of JBS debt into equity, boosting the bank’s shareholdings in the company to 30.4% from 17% previously. “This capitalization does not in any way alter the controlling structure nor the administration of the company” Investor Relations Officer Jeremiah O’Callaghan [...]

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New deal opens Colombian markets to Canadian beef

When you go into a restaurant in Bogotá, you’ll soon be able to pay alot less for Alberta beef. That’s thanks to a new free trade agreement with Colombia. Travis Toewes with the Canadian Cattleman’s Association appeared on the Alberta Weekend Morning Show on 630CHED. Toewes says the FTA drops the duty on our beef [...]

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Indonesia drops Brazil beef

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ANY immediate prospect of Bra-zilian beef exports to Indonesia appears to have disappeared, fol-lowing an Indonesian Supreme Court ruling in favour of limiting importation to FMD-free countries only. In recent months it appeared likely that Indonesia was going to accept a zone-based FMD status for Brazil, allowing beef imports from those Brazilian states declared disease-free. [...]

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Brazil’s Caixa to Finance $1.3 Billion in Beef Exports to Iran, Valor Says

Brazil’s state-controlled Caixa Economica Federal will finance up to 1 billion euros ($1.3 billion) in beef shipments to Iran after private banks refused to extend credit to exporters, fearing retaliation from the U.S. and European Union, Valor Economico said. The financing will be backed by Brazil’s Treasury, which will be responsible for collecting payment from [...]

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