December 1, 2005

 

Brazilian beef exports to fall by US$260 million

 

 

Brazil's beef exporters will lose between US$250 million and US$260 million this year, Brazil's Agriculture Minister, Roberto Rodrigues, said last night in Minas Gerais state, the Agencia Estado Newswire reported Wednesday.

 

"This is the forecast for now, but there has been an increase in world beef prices so it is still early to say for sure what the losses will be," Rodrigues was quoted saying. "This is the parameter for now."

 

Fifty-two nations banned Brazil beef exports on account of FMD found on over two dozen farms in the southern corner of Mato Grosso do Sul state.

 

Brazil's beef exports are expected to end the year around US$2.8 billion, down from an expected US$3 billion before the bans began in October.

 

Rodrigues said he expects countries will start to reverse their embargoes over the next 60 to 90 days.

 

Brazil is the world's no. 1 beef exporter.

 

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