Good morning! Today, Brazilian beef ban finally scrapped in China. Latest opinion polls show an even more favorable scenario for ex-President Lula. Services the latest sector to struggle as Q4 gets off to a bad start.
China lifts ban on Brazilian beef
Brazil’s Agriculture Ministry announced the end of China’s 102-day ban on Brazilian beef products. The restrictions were put in place after two atypical cases of mad cow disease in Mato Grosso and Minas Gerais.
Why it matters. China accounted for 45 percent of Brazil’s beef exports between January and November of this year. After the ban was enforced, the number of slaughtered cattle heads in Brazil dropped to its lowest level in 18 years at 1.9 million, per the Institute for Applied Economic Research (Ipea).
- Total exports were down 43 and 47 percent in October and November, respectively, when compared to a year prior.
Process. In November, Chinese authorities had loosened the ban, allowing the unloading of meat shipments certified before September 4 — when exports were suspended. Now, boneless products of cattle up to 30 months of age are free of restrictions.
Where’s the beef. China’s meat imports from Brazil surged after the Asian country’s hog herds...