The European Union suspends imports of Brazilian meat

On Jan 31st, the European Union has suspended imports of Brazilian meat. According to domestic agents, this decision should boost meat prices in the EU. On the other hand, it should press values in Brazil.

Between Dec 28th and Jan 31st, the ESALQ/BM&F Index for the steer (Sao Paulo state) increased 3.7 percent in Real, closing at 74.40 reals or 42.30 dollars per arroba (15 kilos) on Thursday. At the end of January, however, the upward trend was limited by the slow market pace, due to the new rules of the Brazilian Bovine and Bubaline Identification and Certification System (Sisbov) required by the European Union. Moreover, the uncertainties regarding international and domestic trades have increased the pressure over domestic values at the end of the month.

In the wholesale market of Sao Paulo city, the steer carcass prices decreased 5.5 percent in Real during January, averaging 4.31 reals or 2.45 dollars per kilo on Jan 31st.

Regarding the living hog, prices received by farmers averaged 2.46 reals or 1.40 dollar per kilo on Jan 31st in Sao Paulo state, decreased 19.6 percent in Real over Dec 28th. In the wholesale market of Sao Paulo capital, the hog carcass devaluated 17.7 percent in Real during the same period, at 3.64 reals or 2.07 dollar per kilo on Jan 31st.

In the poultry market, the frozen meat prices dropped 17.3 percent in Real in the accumulated of January, at 2.55 reals or 1.45 dollar per kilo on Jan 31st; the chilled one decreased 17.9 percent in Real, at 2.25 reals or 1.28 dollar per kilo on Thursday, both in the wholesale market of Sao Paulo capital - the most important Brazilian consumer reference.

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