US-China trade war to hurt Brazil in long-term
The commercial dispute between USA and China may look favourable to Brazil interest but it could end up hurting meat producers in the country, Blairo Maggi, Brazil's Minister of Agriculture, declared for Reuters.
"In the short term Brazil is gaining a lot, it’s true. But in the medium term and in the long term it can be a problem because nearly everything we export, be it poultry or pork, rely on soy for food. If soybean rises in Brazil that means it is less expensive comparatively in the United States and since they are also poultry and pork producers, they will be more competitive and it will penalize us", explained Maggi.
Brazil is the world largest poultry producer but is facing heavy wind on some exports market due to a series of scandals regarding the poor standards on food hygiene and security. Meantime, in the last two months, the price of soy has increased by 8.3% affecting the costs of feeding for poultry and pork producers.
"At some point, China and the United States will find an agreement but we will potentially have lost some markets", said minister Blairo Maggi. For now, the US and China are negotiating a new agreement regarding tariffs on imported products.
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