China's Weak Beef Market Poses Risks for Chief Supplier Brazil [BNN Bloomberg (Canada)]
MINERVA SA S/ADR (MRVSY)
NASDAQ:AMEX Investor Relations:
ir.minerva.ind.br
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Source: BNN Bloomberg
Official data show the value of China beef imports fell last year for the first time since at least 2016, with prices plunging to the lowest level in almost three years. Import volumes are seen dropping 4% this year, ending 12 straight years of meteoric rise, according to the US Department of Agriculture. The predicament highlights the risks in relying heavily on a single customer: China was the destination for more than 52% of the South American country's beef sales last year even after halting imports for roughly two months over a case of mad cow disease. While the nation's meatpackers have sought to diversify their exports, alternatives remain limited. “Brazil depends a lot on China — if there's a hiccup in China, it will affect Brazil very badly,” said XP Investimentos analyst Leonardo Alencar. The outsized exposure to China has taken a toll on meatpackers' earnings. Minerva SA, the largest supplier of South American beef, saw export revenue shrink by almost 18% in 2024. Ma
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News
- China's Weak Beef Market Poses Risks for Chief Supplier Brazil [Yahoo! Finance]Yahoo! Finance
- MINERVA FOODS RECORDS EBITDA OF R$ 2,6 BILLION IN 2023 [Yahoo! Finance]Yahoo! Finance
- MINERVA FOODS RECORDS EBITDA OF R$ 2,6 BILLION IN 2023PR Newswire
- MINERVA FOODS RECORDS EBITDA OF R$ 2,6 BILLION IN 2023PR Newswire