November 28, 2008

Brazil's Sadia expects 2009 chicken exports to slow


Brazilian meatpacker Sadia SA (SDA) said that chicken exports should slow next year due to the financial crisis, according to a Sadia press officer Thursday (November 27).


Sadia's chicken exports should slow to around 5 percent growth in 2009, compared with about 20 percent expected for this year, local news service Estado reported Jose Agusto Lima da Sa, Sadia's director of investor relations as saying. Sadia's press officer couldn't confirm the exact figure.


The executive also disclosed Sadia has not been in talks for the possible sale of the group to Swiss food giant Nestlé. "That's baseless. On the contrary, Nestlé has recently pulled out of meatpacking activities in Europe," he said.


Sadia expects 1.2 million tonnes of chicken exports in 2008.


The company in September announced a non-recurrent loss of 760 million Brazilian real (US$338 million) in its foreign exchange positions.


Brazil is the world's No.1 chicken exporter.

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