JBS and Marfrig Set to Pay the Price for Bolsonaro’s Israel Policy — Panjiva
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JBS and Marfrig Set to Pay the Price for Bolsonaro’s Israel Policy

Ags - Meat/Dairy 138 Brazil 260 Cons. Staples - Food/Beverages 395 Iran 18 Saudi Arabia 29 UAE 13

The incoming government of President-elect Jair Bolsonaro may shift Brazil’s Israeli embassy to Jerusalem from Tel Aviv. Press reports suggest that could lead to worse relations with other Middle East states and jeopardize Brazilian exports of halal beef. Brazil’s beef exports to the four largest Middle East buyers (Egypt, Iran, Saudi Arabia and the UAE) represented 373k tons, or 28.3% of total exports in the 12 months to Sept. 30. They had already been in decline with a 3.3% drop in the third quarter on a year earlier as suppliers prioritized shipments to China. The leading ...

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