Meat and live chicken prices jump in Brazil
Live birds and chicken meat prices are jumping in Brazil due to increased demand in the domestic market, reports Brazilian Centro de Estudos Avançados em Economia Aplicada (CEPEA). The values were driven by increased demand in the domestic market and tighter control in supply. Also, CEPEA experts are mentioning a decrease in production in the last three months due to ongoing COVID-19 crisis in Brazilian plants and farms. However, the Brazilian poultry industry has made investments worth $100 million to mitigate the risks of new infections in the processing units.
Favourable market conditions for chicken meat, with controlled supply and good liquidity in the domestic market, compensate for the weakening of the sector's exports. According to a report by Secex, in July, there was a decrease in poultry exports of 4.7% compared to the previous month and a 5.5% drop when compared to July 2019.
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