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Brazil’s Agriculture Minister, Tereza Cristina, announced the Government has received a go ahead from Chinese authorities to resume beef exports to the country, leading meatpacker Minerva to suspend the planned collective holidays at its Barretos unit, Brazilian state of Sao Paulo.
Meat and leather producer Tyson achieved total revenues of just over US20.6 billion for the first six months of its current business year, the half-year to March 30, 2019. This figure represents an increase of 3.2% compared to the first six months of the previous business year.
US beef exports fell in both volume and value in February, continuing what has been an uncertain start to the year for an industry coming to terms with shifts in the global trade landscape.
Exports of beef from Australia to China increased by 67% in the first quarter of 2019 compared to the same three months last year. In total, China imported around 51,000 tonnes of Australian beef between January and March 2019.
On a U.S. GAAP (Generally Accepted Accounting Principles basis), net earnings for the multinational producer and distributor of agricultural products, including hides, totalled US $566 million for the Company’s fiscal third quarter, a +14% increase from US $495 million a year ago.
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